ITALY: Extension of measures on Italy short selling

Thursday January 12 2012

Further to the update of 14 November, Consob has announced that it has extended until 24 February 2012 the restrictive measures on net Italy short selling positions on shares in the financial sector, adopted on 12 August last year. It therefore maintains a ban on taking or increasing net short positions, or bearish positions, in specified issuers in the banking and insurance industry, taking into account all financial instruments, including derivatives. Consob also iterated that the reporting requirement applicable to net short positions and the prohibition on naked Italy short selling continue to apply indefinitely. Click on the above link for more details.