FRANCE: AMF Highlights Rules Restricting Short Selling Speculation

Friday September 7 2018

In response to increased negative online speculation of financial issuers, in particular through a large volume of short sales, the Autorité des marchés financiers (AMF) has highlighted certain rules to prevent market abuse, and the specific rules of short selling.

Under the European regulation on market abuse, the AMF reminds perons that it is forbidden to disseminate information, whether through the media, including the internet, or by any other means, which gives or are likely to give false or misleading information.

The AMF also remind persons that the European regulation on short sales prohibits short selling a security without having borrowed it or taking the necessary measures to ensure reasonable delivery of the security on the due date and that under Article 223-37 of the AMF General Regulation any net short position equal to or greater than 0.2% of the capital of a company must be declared to the AMF.

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