View Short Selling (No2) Instrument 2008 - FAQs Version 3 (PDF 56KB), 26 September2008

The Board of the FSA agreed on 18 September 2008 to introduce new provisions to the Code of Market Conduct to prohibit the active creation or increase of net short positions in publicly quoted financial companies. The new provisions came into effect at 00.01am on 19 September 2008.

In addition, from 23 September 2008 the FSA has required daily disclosure of all net short positions in excess of 0.25 per cent of the ordinary share capital of the relevant companies held at market close on the previous working day. Disclosure of such positions held at close on 19 September 2008 were also required on 23 September 2008.

The new provisions remain in force until 16 January 2009, although they will be reviewed after 30 days. The FSA plans to publish a comprehensive review of the rules on short selling in January 2009.

The FSA has also published the following documents in connection with the new provisions:

  • Short Selling (No 3) Instrument 2008 - Final version.
  • Short Selling (No 2) Instrument 2008 - Full version of short selling rules with highlighted changes.
  • Short Selling (No 2) Instrument 2008 - Full version of short selling rules without highlighted changes.
  • TR-4 - Form for short position disclosure.
  • Short Selling (No 2) Instrument 2008 - FAQs version 3.
  • List of UK incorporated banks and insurers in connection with Short Selling (No 2) Instrument 2008 - updated 30 September 2008.

View Short Selling (No 3) Instrument 2008 - Final Version, (PDF 11KB), 23 September 2008

View Short Selling (No 2) Instrument 2008 - Plain version of new short selling rules without highlighted changes (PDF 25KB), 18 September 2008

View Short Selling (No 2) Instrument 2008 - Full version of new short selling rules with highlighted changes (PDF 16 KB), 18 September 2008

View TR-4 - Form for short position disclosure - Version 2 (PDF 56KB), 26 September 2008

View Short Selling (No2) Instrument 2008 - FAQs Version 3 (PDF 56KB), 26 September2008

View Press release: FSA statement on short positions in financial stocks, 18 September 2008