GREECE: HCMC fines funds over naked short selling

Thursday May 14 2015

The Hellenic Capital Market Commission (HCMC) decided during its Board of Directors’ meeting, on 14th May 2015, the following:

The imposition of a fine amounting to €40,000, on TOSCA MASTER, for undertaking short sales of Eurobank Ergasias Bank’s shares, contrary to the provisions of Art 12(1.B) of Regulation (EU) 236/2012 of the European Parliament and of the Council of 14 March 2012 on short selling (the ‘SSR’).

The imposition of a fine amounting to €30,000, on TOSCA FOCUS, for undertaking short sales of Eurobank Ergasias Bank’s shares, contrary to the provisions of Art 12(1.B) of SSR.

The imposition of a fine amounting to €10,000, on LOMBARD ODIER DARIER HENTSCH & CIE SA for undertaking short sales of ALPHA BANK SA’s shares, contrary to the provisions of Art 12(1.B) of SSR.

The imposition of a fine amounting to €10,000, on Hadron Alpha Plc – Hadron Alpha Select Fund for undertaking short sales of NATIONAL BANK OF GREECE SA’s shares contrary to the provisions of Art 12(1.B) of SSR.

The imposition of a fine amounting to €10,000, on Hadron Master Fund, for undertaking short sales of the NATIONAL BANK OF GREECE SA’s shares, contrary to the provisions of Art 12(1.B).

The imposition of a fine amounting to €10,000, on VERRAZZANO EUROPEAN LONG SHORT, for undertaking short sales of Eurobank Ergasias Bank’s shares, contrary to the provisions of Art 12(1.B) of SSR.

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