ITALY: Consob extends Italy short selling ban

Monday November 14 2011

Further to the update of 29 September, Consob the Italian securities market regulator, has assessed the impact of the restrictive measures in respect of net short positions on financial stocks taken in August 2011 and the evolution of market conditions. Following these assessments, and based on current market conditions Consob have decided to extend its restrictive measures on short sales adopted on August 12 until 15 January 2012.Consob has also taken the decision to ban naked Italy short selling on the whole regulated stock market, the ban will come into effect from midnight on the 1 December.

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