FRANCE: End of prohibition on France short selling

Tuesday February 14 2012

The AMF has announced that the provisions prohibiting any creation of a net short position and increase of an existing one in relation to French equity securities of the financial sector (as listed below) came to an end on Saturday 11 February 2012. Therefore, the prohibition of France short selling regarding equity securities and securities giving access to the share capital of the following credit institutions and insurance companies no longer applies:

– April Group

– Axa

-BNP Paribas

– CIC

– CNP Assurances

– Credit Agricole

– Euler Hermès

– Natixis

– Scor

– Societe Generale

The AMF highlights that, with regard to equity securities, a net short position disclosure regime has been implemented since 1 February 2011, and this continues to apply. In addition, any investor must be in a position to deliver the securities he has sold within 3 trading days (T+3). Click on the above link for more details.