The European Commission has adopted a Delegated Regulation and regulatory technical standards in relation to short selling and certain aspects of credit default swaps. These measures supplement the Short Selling Regulation (No. 236/2012).
Using technical advice submitted by the European Securities and Markets Authority (ESMA), the European Commission has drafted the Delegated Regulation to set out the reporting rules in relation to short positions in shares. The regulatory technical standards set out how to calculate the 10% reduction in value for liquid shares, as set out in the Short Selling Regulation.
The Delegated Regulation and regulatory technical standards will apply from 1 November 2012.