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European Commission June 29, 2012 The European Commission has set out detailed rules on reducing the risk of settlement failure relating to uncovered short selling and for disclosure of significant short positions to the market. The technical standards also confirm who ESMA will assess whether shares traded outside the European Union will be exempt from compliance with the Short Selling Regulation. The Short Selling Regulation is expected to apply from 1 November 2012, except for provisions on the principal trading venue, which will apply from the day after the regulation is published in the