Alerts

FSA Recasts and Revises UK Rules on Short Selling

August 5, 2010

On 23 July 2010, the UK’s financial regulator, the Financial Services Authority (“FSA”), published its consultation paper CP 10/18, entitled Feedback on CP 10/11, final rules and further consultation (“CP 10/18”) which incorporates the final text of the new Financial Stability and Market Confidence sourcebook (“FINMAR”). The new sourcebook, which forms part of the FSA Handbook, contains the FSA’s recast and slightly revised rules on short selling (and incorporates many of the FSA’s existing frequently asked questions as guidance).