Alerts
Short-Selling — Update — Austria Bans Short-Selling
19 March 2020
The Austrian Financial Market Authority has announced a ban on short sales, including creating or increasing net short positions via derivatives or other financial instruments which confer a financial advantage in the event of the decrease in the price of the covered stocks. The ban covers all shares admitted to trading on the Vienna Stock Exchange (Wiener Börse) and will remain in effect until 18 April 2020. Short sales of equity indices or baskets are covered by the ban if the restricted securities account for 50% or more of their composition. FMA’s announcement is available here.
The Austrian emergency measures follow the bans introduced earlier this week by the regulators in Belgium, France, Greece and Spain.
Authored by Anna Maleva-Otto and Brian T. Daly.
If you have any questions concerning this Alert, please contact your attorney at Schulte Roth & Zabel or one of the authors.
This communication is issued by Schulte Roth & Zabel LLP and Schulte Roth & Zabel International LLP for informational purposes only and does not constitute legal advice or establish an attorney-client relationship. In some jurisdictions, this publication may be considered attorney advertising. ©2020 Schulte Roth & Zabel LLP and Schulte Roth & Zabel International LLP.
All rights reserved. SCHULTE ROTH & ZABEL is the registered trademark of Schulte Roth & Zabel LLP.
