Short selling rule update: FSA relaxes rules on short positions, but disclosure requirement remains
7 January 2009
Mayer Brown Legal Update
7 January 2009 - On 6 January 2009, the UK Financial Services Authority (“FSA”) announced that its rules prohibiting the short selling of securities in UK financial sector companies would be allowed to expire on 16 January 2009. The rules requiring disclosure of such provisions will, however, remain in place until at least 30 June 2009 (by which time, FSA is expected to have consulted on more long term proposals).