Jul122017

ESMA issues positive opinion on renewal of short selling ban by Spanish CNMV

EU

The European Securities and Markets Authority (ESMA) has issued an official opinion agreeing to the renewal of the emergency short selling prohibition, for a period of two month, by the Comisión Nacional del Mercado de Valores (CNMV) on net short positions in Liberbank, S.A. (Liberbank) shares under the Short Selling Regulation.

The measure is expected to enter into force on 12 July 2017 at 23:59 CET, and to be applicable until 12 September 2017 at 23:59 CET. It temporarily prohibits transactions in any shares, either directly or through related instruments and irrespective of the venue or market in which the transactions leading to those positions are conducted. The measure does not apply to market-making activities, trading in index-related instruments or short positions entered into to hedge positions on convertible bond or subscription rights.

The short selling measure applies to any natural or legal person, irrespective of their country of residence.

ESMA considers that the current circumstances related to Liberbank constitute an adverse scenario for the Spanish financial system, and that the proposed measure is appropriate and proportionate to address the threat in the Spanish financial markets.

Jul122017

ESMA issues positive opinion on renewal of short selling ban by Spanish CNMV

EU

The European Securities and Markets Authority (ESMA) has issued an official opinion agreeing to the renewal of the emergency short selling prohibition, for a period of two month, by the Comisión Nacional del Mercado de Valores (CNMV) on net short positions in Liberbank, S.A. (Liberbank) shares under the Short Selling Regulation.

The measure is expected to enter into force on 12 July 2017 at 23:59 CET, and to be applicable until 12 September 2017 at 23:59 CET. It temporarily prohibits transactions in any shares, either directly or through related instruments and irrespective of the venue or market in which the transactions leading to those positions are conducted. The measure does not apply to market-making activities, trading in index-related instruments or short positions entered into to hedge positions on convertible bond or subscription rights.

The short selling measure applies to any natural or legal person, irrespective of their country of residence.

ESMA considers that the current circumstances related to Liberbank constitute an adverse scenario for the Spanish financial system, and that the proposed measure is appropriate and proportionate to address the threat in the Spanish financial markets.

Jul122017

Ministry set to toughen guns ahead of CPC national congress

East Asia

Public Security Minister Guo Shengkun speaks at a symposium which gathered police chief from across the country. [Photo/Gov.cn] 

China will stage a campaign against manufacture and sale of guns in the lead-up to the 19th Communist Party of China (CPC) National Congress, Public Security Minister Guo Shengkun said Tuesday.

Speaking at a symposium which gathered police chief from across the country, Guo said campaigns on management of explosives and hazardous items, improved courier and logistics security as well as fire safety of high-rise buildings will also be staged.

Together, these campaigns will serve to “safeguard stability and security and promote harmony,” and help build a safe and stable social environment for a successful Party congress, Guo said.

The 19th CPC National Congress, a major event in the political life of the Party and the state, will be held in Beijing in the second half of 2017.

Possession of guns by private individuals is illegal in China. The country has long maintained high pressure on gun crime and has asked the public to turn in illegal guns and explosives and report anything suspicious to the police.