ITALY: Consob extend the deadline of temporary measures on Italy short selling

Friday August 26 2011

Further to the update of 12 August, Consob acting in cooperation with the other European regulators that limited Italy short selling (Belgium, France, Spain and Greece) and under the coordination of ESMA, taking into account the current market developments, has decided, by Resolution no. o`17911, to extend the deadline of its resolution no. 17902 of 12 August restricting the possibility to take net short position on certain shares, until 30 September. In line with that decision Consob also extended to 14 October the deadline of its resolution no. 17862 of 10 July containing rules on reporting net short position on shares to Consob. If market conditions allow and upon consultation with the above mentioned regulators, Consob will assess whether the lifting of the temporary ban can be considered (or any further action is required).

Click on the above link for more detailsUpdate of 12 August – http://www.markets.funds-axis.com/newsArticle.asp?type=2&id=2100