ITALY: Consob bans Italy short selling

Friday August 12 2011

Following the ban on Italy short selling introduced in Greece on 9 August, and given volatile European financial markets in recent weeks, as of 12 August the Italian regulator, Consob, has prohibited the creation of new net short positions as well as the increase of existing short positions, including intraday positions, in the capital of issuers in the financial sector, as listed in the Resolution. The rules apply to natural or legal entities, whether Italian or foreign. The disclosure requirements as announced previously will continue to apply. The prohibition is in application for 15 days.

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