EU securities regulators are closely monitoring the functioning of the markets under the current circumstances and are considering together possible actions which might be taken to contribute to orderly functioning markets. Any such actions will be taken with a view to strengthening confidence in financial markets and protecting investors. 

Particularly, CESR, in its role as a network bringing together EU securities regulators, has been co-ordinating actions by its Members regarding the short selling practices, in particular in financial companies. Some EU securities regulators have adopted measures in their respective markets either to limit, or to introduce stringent requirements or further reporting obligations by firms to supervisory authorities on short-selling.

Austria’s Financial Market Authority FMA has extended the temporary prohibition, limited to 30 November 2010, on naked short selling in the cash market of shares of Erste Group Bank AG, Raiffeisen Bank International AG, UNIQA Versicherungen AG and WIENER STÄDTISCHE Versicherung AG Vienna Insurance Group by regulation to 31 May 2011. This measure is based on Article 48d para. 12 of the Börsegesetz (Stock Exchange Act). Only short-term naked short sale positions taken by market makers or specialists within the scope of their contractual obligations are exempt from the prohibition. 

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