Regulation 13 FCA power to require notifications
The FCA may require any person who has a net short position in the issued share capital of a reportable company to notify to the FCA details of—
the position the person holds, where it is equal to or exceeds a specified threshold;
any change to that position (for example, where the position falls below the specified threshold).
The FCA may require any person who has—
entered into a short sale of a financial instrument, or
entered into a transaction, other than a short sale of a financial instrument, where an effect of the transaction is to confer a financial advantage on the person in the event of a decrease in the price or value of that financial instrument,
to notify to the FCA details of the position the person holds as a result of that short sale or transaction.
This regulation is subject to regulation 16(1).
In paragraph (1)—
a “reportable company” is a company in relation to which a person with a net short position equal to or greater than the threshold in regulation 6(2) is required to make a notification under rules made by virtue of regulation 6(1);
“specified” means specified in a notice published by the FCA under regulation 18;
the threshold may be the same as or lower than the notification threshold specified in regulation 6(2).