ITALY: Extension of Italy short selling prohibition until 14 September

Friday August 17 2012

Consob, in view of the persistent conditions of uncertainty in financial markets, has decided to extend until 18:00 pm Friday, September 14 the prohibition on Italy short selling securities in the banking and insurance sector, introduced on 23 July with Resolution no. 18283. The prohibition applies both to Italy short-selling securities backed by loans (“covered”) and “naked” positions, already prohibited by resolution (No. 17993) of 11 November 2011. Intermediaries are required to take all necessary measures and precautions to ensure strict compliance with the measure.

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