FRANCE: AMF announces new regime for reporting France short sales

Wednesday November 17 2010

To fulfil its commitment to promptly implement the recommendations announced by CESR in May 2010, the AMF amended its General Regulation to introduce a comprehensive transparency regime for net short positions in equities traded on a French regulated market (Euronext) or organised multilateral trading facility (Alternext). A new article, 223-37, was introduced for this purpose. It has been supplemented by Implementing Instruction 2010-08.

This amendment will take effect on 1 February 2011. The measures taken by the AMF on 19 September 2008 to prohibit short selling of specified financial stocks will no longer apply as from that date. The new system heralds the forthcoming transparency regime to be implemented in 2012 through the European regulation on short selling.