ESMA says it is enforcing this precaution under the exceptional circumstances of the COVID-19 pandemic and that is making it essential for authorities to monitor the markets to ensure financial stability and investor protection
The EU watchdog has endorsed several long-term bans on all forms of short positions following several days of extreme volatility driven by the COVID-19 pandemic
ISLA and ICMA have sent a joint letter to ESMA requesting a delay to SFTR until October to mitigate the huge strain put on in-scope firms to meet the current April deadline in the midst of a global pandemic
The association cited the current uncertainty as to the future development of the Coronavirus pandemic (COVID-19), as driving the decision to delay its annual event until next year.
We are now in a market gripped by panic and we believe that restricting the ability to short sell is in the best interest of promoting a more orderly market," says UniSuper CIO
The FCA has so far stopped short of imposing a short selling ban on any UK stocks and is unlikely to do so, according to Nick Bayley, managing director and head of Duff & Phelps compliance and regulatory consulting practice