FSA Publishes New Web Pages on Short Selling (with Lofchie Comment)

Further to the entry into force of the regulation on short selling and certain aspects of credit default swaps on November 1, the Financial Services Authority has continued to update its website with information for market participants, most recently with new web pages on:

• its powers to prohibit short selling and measures available to it for this purpose; and
• current prohibitions on short selling in the European Union.

Lofchie Comment: As we have previously noted, the FSA takes a broad view of its jurisdiction; i.e., it takes the view that it has jurisdiction over U.S. investors trading instruments which trade primarily in Europe.