Decision by the spanish regulator to extend the short selling restrictions
Spanish regulator, CNMV has agreed on November 1 to extend the short selling restrictions for an additional period of 3 months, until January 31, 2013 –included-.
CNMV adopts this decision on the basis of the exceptional situation of the Spanish financial system. Since the bank restructuring procedure has not yet concluded, CNMV considers necessary to continue the temporary ban on short sales.
In accordance to article 27 of Regulation EU No. 236/2012, ESMA has issued its positive opinion on the measures adopted by the CNMV, considering them appropriate and proportional.