ESMA · ESMA_QA_1930 Answer Published

Net short positions - Reporting by a legal entity within a group

Regulation
Short Selling Regulation (SSR) Regulation (EU) No 236/2012
Topic
Other SSR-related topics
Submitted
2012-10-10
Answered
2012-10-10
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Question

In the case of a group, should a legal entity that is a part of this group always report/disclose its position when it reaches a threshold?

Answer

[ESMA70-145-408 SSR Q&A, Q&A 8.7] No, not always. Any legal entity within a group that reaches or crosses a threshold would only have to report its net short position in a particular issuer when the aggregated net short position at the group level (aggregating and netting the net positions, long and short, of all the entities within the group, with the exception of the net positions resulting from management activities by one or more of the legal entities) does not simultaneously reach or cross a notification threshold (see below). Examples of calculation within a group:
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This Q&A is published by European Securities and Markets Authority and is non-binding. It does not constitute legal advice. Updated weekly from official ESA sources.

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