On June 14, the European Commission published a consultation on short selling, which sets out options being considered by the Commission for a pan-European regime for the regulation of short selling.

The consultation focuses on five key areas: scope; transparency; risks of uncovered short sales; emergency powers for national regulatory authorities; and potential exemptions.

The consultation closes on July 10, 2010. The Commission will then prepare a formal legislative proposal, currently scheduled to be published in September.

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