ESMA has published a Q&A on implementation of the regulation on short selling and certain aspects of credit default swaps.  

The purpose of the Q&A is to promote common supervisory approaches and practices amongst the EU’s national securities markets regulators on the requirements of the Short Selling Regulation once it comes into force on 1 November 2012. It will also provide clarity on the requirements of the new regime to market participants and investors.  

The Q&A addresses issues related to: (i) territorial scope; (ii) transparency requirements, (iii) calculation of net short positions, (iv) uncovered short sales and (v) enforcement regime.

This document is however, likely to be revised and updated before 1 November as new questions are received by ESMA.