This article was originally published 23 July,
2009
This update highlights a number of important developments
regarding the regulatory framework for the short-selling of
securities.
At the international level – and in the European Union
(EU), in particular - significant progress is being made towards
the harmonisation of individual jurisdictions' short-selling
regulations.
In the UK, the existing temporary rules on disclosure of short
positions have now been extended again, and work is underway to
implement a permanent regime (which is expected to be significantly
broader, in some respects, than at present).
IOSCO's Principles – A Framework For
Regulators Globally
In a report published in June 2009, IOSCO (International
Organization of Securities Commissions) proposed four high-level
principles for effective regulation of short-selling, intended to
guide individual regulators in the formulation of their own rules.
The principles state that there should be:
