On October 9, the Financial Services and Markets Act 2000 (Short Selling) Regulations 2012 (the Regulations) were published. The Regulations relate to the EU Regulation on Short Selling and Certain Aspects of Credit Default Swaps (the Short Selling Regulation). The Regulations repeal certain UK statutory and regulatory provisions which are inconsistent with the Short Selling Regulation, designate the UK Financial Services Authority (FSA) as the UK’s competent authority under the Short Selling Regulation, and provide the FSA with specific powers of enforcement and investigation as well as other administrative powers with respect to matters within the scope of the Short Selling Regulation.
