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Consob decided not to extend further the prohibition to assume or increase short positions on shares in the financial segment. This decision is in line with that already decided by other European authorities which, in the past, had taken similar steps and takes into consideration current market conditions.
The other measures adopted at the time in relation to shares listed on Italian regulated markets remain in any case in force for an unspecified period of time, introducing into the Italian order - ahead of forecasts - some of the restrictive measures contained in the European Community Regulation on short sales and some aspect of credit default swaps that will come into force on 1 November. These measures consist of:
It is also noted that the European Community Regulation envisages the possibility, if certain conditions are met, of taking emergency measures, including the prohibition to assume or increase short positions on shares of the financial segment. This prohibition can in any case be reintroduced if market conditions so require and, once up and running, under the scope of the measures envisaged by European Community Regulation.
Consob will continue to monitor systematically the regular satisfaction of obligations to deliver shares during settlement.