# The Short Selling Regulations 2024, Regulation 18: Notice of FCA decision to exercise power in exceptional circumstances


(1) The FCA must publish a notice of any decision to exercise a power under this Part.
(2) The notice must specify—
(a) the power exercised;
(b) the measure imposed under the power, including a description of the financial instruments or transactions to which it relates;
(c) the time period for which the measure will be in force;
(d) the reasons why the FCA believes it necessary or, in the case of a decision to exercise the power in regulation 17, appropriate to exercise the power including the evidence supporting those reasons;
(e) the reasons why the FCA believes that the exercise of the power will not have a detrimental effect on the efficiency of the financial markets in the United Kingdom which is disproportionate to its benefits;
(f) where the notice is of a decision to exercise the power in regulation 13(1), the threshold for notification to the FCA of a net short position;
(g) any exceptions that apply in relation to the measure;
(h) where the notice is of a decision to exercise a power in regulation 13 or 14—
(i) how and when notification must be made, and
(ii) the form and content of the notification.
(3) A measure imposed by the FCA under this Part takes effect when the notice is published or at a later time specified in the notice and applies (as appropriate) in relation to—
(a) any position held or any lending agreement in place at the time;
(b) any position acquired or any lending agreement, short sale or transaction entered into after the measure takes effect.
(4) A measure imposed by the FCA under this Part ceases to have effect at the end of the time period specified in the notice in accordance with paragraph (2)(c).

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Source: https://www.legislation.gov.uk/ukdsi/2024/9780348265538/regulation/18 (the official version)
Page: https://openlegislation.uk/draft-short-selling-regulations-2024/regulation-18
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.