ESMA · ESMA_QA_1941 Answer Published

Record keeping of the relevant evidence on a durable medium

Regulation
Short Selling Regulation (SSR) Regulation (EU) No 236/2012
Topic
Uncovered short sales
Submitted
2013-01-29
Answered
2013-01-29
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Question

How long should the durable medium under Article 5, 6 and 7 of the ITS (Commission Implementing Regulation EU No 827/2012) be stored as evidence of the existence of the agreement to borrow or other enforceable claim?

Answer

[ESMA70-145-408 SSR Q&A, Q&A 10.4] Although Articles 5, 6 and 7 of the ITS do not specify the length of time for retaining the relevant evidence, ESMA recommends that the durable medium used should allow the evidence to be kept unaltered, accessible and retrievable for 5 years.
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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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