ITALY: CONSOB imposes Short Selling ban on Banca Monte dei Paschi di Siena spa shares

Wednesday July 6 2016

The Italian regulator, Consob, has imposed a temporary short selling ban on Banca Monte dei Paschi di Siena spa shares (Financial instrument ISIN: IT0005092165) for the entire trading day of 06 July 2016 on the MTA market of Borsa Italiana.

The short selling ban was made under Article 23 of EU Regulation No. 236/2012 of the European Parliament and of the Council of 14 March 2012, in response to a significant fall in price exceeding 10%. The share price for the previous trading day fell by 13.99%.

Pursuant to Article 23(3), the above-mentioned prohibition does not apply to the activity of market making, as defined by Article 2(1)(k) of the aforementioned Regulation.

For more information on the announcement, please click the link at the top of the page.