ESMA invited investors, market participants and any other interested stakeholders to provide responses to the questions outlined in the Call for Evidence by 15 March.
The Call for Evidence focused on the six main areas of the Regulation: transparency and reporting requirements; restrictions on short selling of shares and sovereign debt; restrictions on entering into uncovered sovereign credit default swap positions; settlement discipline, including buy-in procedures; exemptions from provisions of the Regulation; and intervention powers and emergency measures. Each section summarised the relevant provisions and their objectives and then posed various questions on their operation and impact.
ESMA’s advice is expected to be delivered to the EC by 31 May. It will contribute to the EC’s Report on the review of the Short Selling Regulation, which it is obliged to present to the European Parliament and the European Council by 30 June, 2013.
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