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Regulation (EU) No 236/2012 of the European Parliament and of the Council of 14 March 2012 on short selling and certain aspects of credit default swaps (Text with EEA relevance) (revoked)

EU Regulation No 236/2012 · Adopted 14 March 2012 · Extends to United Kingdom

Original text. legislation.gov.uk does not revise this item, so later amendments are not shown here. Changes made to it are listed under each provision when known.

Regulation (EU) No 236/2012 of the European Parliament and of the Council

of 14 March 2012

on short selling and certain aspects of credit default swaps

(Text with EEA relevance) (revoked)

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Annotations to the whole text

Textual amendments

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Regulation revoked (13.7.2026) by Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 1 Pt. 1 (with s. 1(4)) (with savings in S.I. 2025/29, regs. 2, 28, 29); S.I. 2026/587, reg. 2(b)

Contents

  1. Chapter I: GENERAL PROVISIONS Repealed
  2. 1Scope Repealed
  3. 2Definitions Repealed
  4. 3Short and long positions Repealed
  5. 4Uncovered position in a sovereign credit default swap Repealed
  6. Chapter II: TRANSPARENCY OF NET SHORT POSITIONS Repealed
  7. 5Notification to competent authorities of significant net short positions in shares Repealed
  8. 6Public disclosure of significant net short positions in shares Repealed
  9. 7Notification to competent authorities of significant net short positions in sovereign debt Repealed
  10. 8Notification to competent authorities of uncovered positions in sovereign credit default swaps Repealed
  11. 9Method of notification and disclosure Repealed
  12. 10Application of notification and disclosure requirements Repealed
  13. 11Information to be provided to ESMA Repealed
  14. Chapter III: UNCOVERED SHORT SALES Repealed
  15. 12Restrictions on uncovered short sales in shares Repealed
  16. 13Restrictions on uncovered short sales in sovereign debt Repealed
  17. 14Restrictions on uncovered sovereign credit default swaps Repealed
  18. 15Buy-in procedures Repealed
  19. Chapter IV: EXEMPTIONS Repealed
  20. 16Exemption where the principal trading venue is in a third country Repealed
  21. 17Exemption for market making activities and primary market operations Repealed
  22. Chapter V: POWERS OF INTERVENTION OF COMPETENT AUTHORITIES ... Repealed
  23. Powers of competent authorities Repealed
  24. 18Notification and disclosure in exceptional circumstances Repealed
  25. 19Notification by lenders in exceptional circumstances Repealed
  26. 20Restrictions on short selling and similar transactions in exceptional circumstances Repealed
  27. 21Restrictions on sovereign credit default swap transactions in exceptional circumstances Repealed
  28. 22Measures by other competent authorities Repealed
  29. 23Power to restrict short selling of financial instruments temporarily in the case of a significant fall in price Repealed
  30. 24Period of restrictions Repealed
  31. 25Notice of restrictions Repealed
  32. 26Notification to ESMA and other competent authorities Repealed
  33. Powers of the Treasury Repealed
  34. 27Coordination by ESMA Repealed
  35. 28ESMA intervention powers in exceptional circumstances Repealed
  36. 29ESMA’s powers in emergency situations relating to sovereign debt Repealed
  37. 30Further specification of adverse events or developments Repealed
  38. 31Inquiries by ESMA Repealed
  39. Chapter VI: ROLE OF COMPETENT AUTHORITIES Repealed
  40. 32Competent authorities Repealed
  41. 33Powers of competent authorities Repealed
  42. 34Professional secrecy Repealed
  43. 35Obligation to cooperate Repealed
  44. 36Cooperation with ESMA Repealed
  45. 37Cooperation in case of request for on-site inspections or investigations Repealed
  46. 38Cooperation with third countries Repealed
  47. 39Transfer and retention of personal data Repealed
  48. 40Disclosure of information to third countries Repealed
  49. 41Penalties Repealed
  50. Chapter VII: REGULATIONS Repealed
  51. 42Regulations Repealed
  52. 43Deadline for the adoption of delegated acts Repealed
  53. Chapter VIII: IMPLEMENTING ACTS Repealed
  54. 44Committee procedure Repealed
  55. Chapter IX: TRANSITIONAL AND FINAL PROVISIONS Repealed
  56. 45Review and report Repealed
  57. 46Transitional provision Repealed
  58. 47Staff and resources of ESMA Repealed
  59. 48Entry into force Repealed
  60. Signature

1ScopeF1

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2DefinitionsF1

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3Short and long positionsF1

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

4Uncovered position in a sovereign credit default swapF1

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5Notification to competent authorities of significant net short positions in sharesF1

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

6Public disclosure of significant net short positions in sharesF1

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

7Notification to competent authorities of significant net short positions in sovereign debtF1

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

8Notification to competent authorities of uncovered positions in sovereign credit default swapsF1

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

9Method of notification and disclosureF1

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

10Application of notification and disclosure requirementsF1

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

11Information to be provided to ESMAF1

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

12Restrictions on uncovered short sales in sharesF1

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

13Restrictions on uncovered short sales in sovereign debtF1

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

14Restrictions on uncovered sovereign credit default swapsF1

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

15Buy-in proceduresF1

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

16Exemption where the principal trading venue is in a third countryF1

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

17Exemption for market making activities and primary market operationsF1

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

18Notification and disclosure in exceptional circumstancesF1

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

19Notification by lenders in exceptional circumstancesF1

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

20Restrictions on short selling and similar transactions in exceptional circumstancesF1

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

21Restrictions on sovereign credit default swap transactions in exceptional circumstancesF1

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

22Measures by other competent authoritiesF1

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

23Power to restrict short selling of financial instruments temporarily in the case of a significant fall in priceF1

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

24Period of restrictionsF1

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

25Notice of restrictionsF1

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

26Notification to ESMA and other competent authoritiesF1

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

27Coordination by ESMAF1

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

28ESMA intervention powers in exceptional circumstancesF1

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29ESMA’s powers in emergency situations relating to sovereign debtF1

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

30Further specification of adverse events or developmentsF1

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

31Inquiries by ESMAF1

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

32Competent authoritiesF1

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

33Powers of competent authoritiesF1

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

34Professional secrecyF1

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

35Obligation to cooperateF1

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

36Cooperation with ESMAF1

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

37Cooperation in case of request for on-site inspections or investigationsF1

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

38Cooperation with third countriesF1

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

39Transfer and retention of personal dataF1

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

40Disclosure of information to third countriesF1

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

41PenaltiesF1

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

42RegulationsF1

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43Deadline for the adoption of delegated actsF1

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

44Committee procedureF1

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

45Review and reportF1

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46Transitional provisionF1

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47Staff and resources of ESMAF1

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48Entry into forceF1

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Signature

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