REG - Financial Conduct - Temporary Short Selling Restriction <Origin Href="QuoteRef">023530.KS</Origin>

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06/09/2014 16:40

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RNS Number : 4446M
Financial Conduct Authority
16 July 2014 
 
NOTICE OF TEMPORARY RESTRICTION IN SHORT SELLING 
 
16 July 2014 
 
The Financial Conduct Authority ("FCA") notifies that it temporarily prohibits
short selling in the following instrument and transactions under Articles 23
(1) and 26 (4) of Regulation (EU) No 236/2012 of the European Parliament and
of the Council of 14 March 2012 on short selling and certain aspects of credit
default swaps. 
 
Nature of measure: 
 
a)  short sale prohibition for shares 
 
Scope: 
 
a)  Banco Espírito Santo, S.A. (ISIN: PTBES0AM0007); 
 
b)  all UK trading venues on which the instrument is traded; and 
 
c)  any person irrespective of their country of residence (subject to the
exemption below). 
 
Entry into force of the measure and duration: 
 
a)  16 July 2014 
 
b)  immediately 
 
c)  until 23:59 on 16 July 2014 
 
Reasons for imposing measure and evidence: 
 
Following the action taken by the CMVM in relation to Banco Espírito Santo,
S.A. (ISIN:PTBES0AM0007), the FCA is satisfied that it is necessary to take
the action set out in this notice to assist the CMVM, taking into account: 
 
a)  a similar price fall in Banco Espírito Santo, S.A. (ISIN: PTBES0AM0007) on
UK trading venues. 
 
Exemptions to the measure: 
 
This measure does not extend to transactions undertaken by market makers who
have notified the FCA of their intention to employ the market maker exemption
in this financial instrument and who are included on the list maintained by
ESMA of market makers permitted to use the exemption. This exception only
extends to those transactions that market makers undertake as part of their
market making activities. 
 
This information is provided by RNS
The company news service from the London Stock Exchange