THE COMMITTEE OF EUROPEAN SECURITIES REGULATORS
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Date: 19 September 2008
Ref: CESR/08-732
PRESS RELEASE
CESR coordinates actions by EU securities regulators in relation
to short-selling in financial markets
EU securities regulators are closely monitoring the functio_ning of the markets under the current
circumstances and are considering together, possible actions which might be taken to contribute to
orderly********_ing 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 coordinating
actions by its Members regarding the short selling practices, in particular in financial
companies. Some EU securities regulators have adopted, or are in a process of taking, actions in their
respective markets either to limit, or to introduce stringent requirements or further reporting
obligations by firms to supervisory authorities on short-selling. Other Members are currently
considering whether additional requirements to the ones already existing would be necessary, taking
into account the evolving market conditions and the characteristics of their particular domestic market.
More generally, CESR Members have strengthened monitoring of financial markets, with a view to
combat possible market abuse behaviour and other practices that may disturb the orderly ********_ing
of financial markets. The actions by the EU securities regulators will lead to intensified enforcement
against any possible abusive practices.
As part of its regular reporting to the EU institutions, CESR had already conducted a survey with a view
to inform the ECOFIN Council about existing requirements and/or restrictions on short selling available
in the individual Member States.