The amendments to the FSA’s rules have now come into force, so that:
– with effect from today, 16 January 2009, the ban on short selling of stocks in financial companies has expired;
– the short selling disclosure obligation has been extended to 30 June 2009, with a full consultation to follow; and
– a net short position which represents an economic interest of 0.25% of the issued capital of any financial company must be disclosed. Once disclosed, additional disclosures are required if the short position crosses any 0.1% threshold over 0.25%, whether as a result of an increase or a decrease in the short position.
The policy statement, including the amended rules, can be found by clicking here.