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Instead of trying to be everything to everybody, we’ve made a name for ourselves by delivering what our clients need most: in-depth, hands-on legal counsel throughout the financial services sector — and beyond.

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Offices

  • New York

    • 919 Third Avenue
    • New York, NY 10022
    • United States of America
      • +1 212.756.2000 Phone
      • +1 212.593.5955 Fax
  • Washington, DC

    • 901 Fifteenth Street, NW, Suite 800
    • Washington, DC 20005
    • United States of America
      • +1 202.729.7470 Phone
      • +1 202.730.4520 Fax
  • London

    • One Eagle Place
    • London SW1Y 6AF
    • United Kingdom
      • +44 (0) 20 7081 8000 Phone
      • +44 (0) 20 7081 8010 Fax

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.


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