|
|
EU securities regulators are closely monitoring the functioning of the markets under the current circumstances and are considering together possible actions which might be taken to contribute to orderly functioning of the markets from the angle of short-selling.
CESR Members have been communicating closely in order to keep each other informed and to achieve as much co-ordination as is practicable. It was agreed that a dedicated task-force on short-selling under the auspices of CESR-Pol should be formed immediately.
The task-force, co-ordinated by the UK FSA, has reported to the CESR Plenary on its preliminary enquiries and has been mandated:
Ø to analyse the impact of the temporary measures introduced by CESR Members; and
Ø to conduct further work, taking into account contributions from the market, with a view to developing a range of options for achieving greater convergence between CESR Members in the short-selling space.