ESMA Seeks Public Comment on Short Selling and Credit Default Swap Regulation
The ESMA has launched a survey of market participants aimed at obtaining industry opinions and evidence on the requirements of the regulation on short selling and certain aspects of credit default swaps and their operation. The call for evidence focuses on six main areas:
- transparency and reporting requirements;
- restrictions on the short selling of shares and sovereign debt;
- restrictions on entering into uncovered sovereign credit default swap positions;
- settlement discipline;
- exemptions; and
- intervention powers and emergency measures.
The ESMA will consider all comments received by March 15, 2013.