AFM extends notification rules for short positions
The AFM has extended the notification rules for short positions (in Dutch). These rules require investors to notify the AFM of short positions in Dutch financial institutions when these reach, exceed or fall below specific thresholds. The AFM will repeal this measure as soon as market conditions allow. The AFM continues to work towards permanent European measures that will increase the transparency of short selling. In the context of CESR, the AFM is therefore working on proposals for a European notification system for short positions.
Evaluation of Act of 9 October 2008 amending the FMSA (prohibition on short selling)
The AFM has sent an evaluation (in Dutch) of this Act to the Minister of Finance. The Act gives supervisory authorities the power in special circumstances to issue temporary, generally binding rules to promote the orderly and transparent financial market processes as referred to in section 1:25 FMSA8. The prohibition on short shelling is an example of this. In addition, the Act clarifies that the AFM may designate categories of transactions or trading orders which fall under the prohibition on market manipulation. In its evaluation, the AFM lists and explains the measures it has taken. It also briefly discusses its enforcement strategy.