8 Power of FSA to prohibit, or require disclosure of, short selling
Financial Services Act 2010 (2010 c 28) | Legislation

Short selling

8  Power of FSA to prohibit, or require disclosure of, short selling

In the Financial Services and Markets Act 2000, after Part 8 insert—

“Part 8A
Short Selling
Short selling rules
131B Short selling rules

(1)     The Authority may make rules prohibiting in specified cases persons from engaging in short selling in relation to relevant financial instruments (or relevant financial instruments of a specified description).

(2)     The Authority may make rules requiring—

(a)     a person who has engaged in short selling in relation to relevant financial instruments (or relevant financial instruments of a specified description), or

(b)     an authorised person of a specified description who has acted on behalf of such a person,

to disclose in specified cases specified information, or information of a specified description, about the short selling.

(3)     Rules under subsection (2) may specify the time by which, and the way in which, the disclosure must be made (and may in particular provide for the information to be disclosed to the Authority or published in a specified way).

(4)     Rules under subsection (2) may apply in relation to short selling engaged in before the rules are made where the resulting short position

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