The European Securities and Markets Authority (ESMA) has published its final technical advice to the European Commission (EC) on how to improve the Short-Selling Regulation (SSR) (236/2012 – SSR). The advice has been issued under a mandate from the EU Commission and follows a consultation launched in July 2017.
ESMA has proposed a number of amendments on controversial areas of the SSR, with the intention to improve its relevance, effectiveness, coherence, and efficiency.
The amendments relate to:
The SSR lays down a common regulatory framework regarding the requirements and powers relating to short selling and ensures greater coordination and consistency between Member States. The SSR aims to enhance transparency, reduce certain risks associated with short selling and ensure a common regulatory approach across Member States.