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Wednesday 14 November, 2018

Financial Conduct

Temporary Prohibition of Short Selling

RNS Number : 2597H
Financial Conduct Authority
14 November 2018
 

NOTICE OF TEMPORARY PROHIBITION OF SHORT SELLING

14 November 2018

The Financial Conduct Authority ("FCA") notifies that it temporarily prohibits short selling in the following instruments and transactions under Articles 23 (1) and 26 (4) of Regulation (EU) No 236/2012 of the European Parliament and of the Council of 14 March 2012.

Nature of measure:

a)  short sale prohibition for shares

Scope:

a)  Banca Carige (ISIN: IT0005108763)

b)  all UK trading venues on which the instruments are traded

c)  any person irrespective of their country of residence (subject to the exemption below)

Entry into force of the measure and duration:

a)  Date: 14 November 2018 

b)  Time: immediately

c)  Duration: Until  11:59 PM on 14 November 2018

Reasons for imposing measure and evidence:

Following the action taken by CONSOB in the instruments above, the FCA is satisfied that it is necessary to take the action set out in this notice to assist CONSOB, taking into account:

a)  a similar price fall in the instrument on UK trading venues

b)  the volume of trading in the UK

Exemptions to the measure:

This measure does not extend to transactions undertaken by market makers who have notified the FCA of their intention to employ the market maker exemption in this financial instrument and who are included on the list maintained by ESMA of market makers permitted to use the exemption. This exception only extends to those transactions that market makers undertake as part of their market making activities.

 

 

 


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