EuropeanIssuers response to CESR consultation on a pan-European short selling disclosure regime
01 October 2009
EuropeanIssuers applauds the initiative to regulate short selling but says that the proposal needs to be completed and amended as follows:
- short selling should be addressed also from a corporate governance and market abuse perspective;
- naked short selling should be banned;
- the threshold for public and private disclosure should be aligned;
- short positions should be reported on a gross basis;
- flagging allows for disclosure of total short positions per share and should be further studied as a means of disclosure;
- the disclosure exemption for market makers should be carefully drafted to avoid loopholes.
© EuropeanIssuers
