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ARTICLE · 24 OCTOBER 2011

Belgium Bans Short Selling On Banks

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On August 11, 2011, the Belgian financial regulator, the Financial Services and Markets Authority (FSMA) has amended the rules governing short selling of shares issued by certain financial institutions listed on Euronext Brussels and in related derivatives.

BelgiumFinance and Banking
Jan Peeters
Jan Peeters

On August 11, 2011, the Belgian financial regulator, the Financial Services and Markets Authority (FSMA) has amended the rules governing short selling of shares issued by certain financial institutions listed on Euronext Brussels and in related derivatives. The decision to introduce such modification was taken after consultation with the other members of the European Securities and Markets Authority (ESMA) and was driven by the high level of volatility that financial markets are currently seeing.

The Belgian short selling measures, as introduced on September 19, 2008 by the (at that time) Commissie voor het Bank, Financie en Assurantiewezen/Commission bancaire, financière et des assurances (now the FSMA) and confirmed by the Royal Decree of September 23, 2008 and as amended by the FSMA on August 11, 2011, now consist of the following three rules:

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