The Financial Services Authority has announced that it is lifting its ban on the short-selling of shares in certain UK financial sector companies. The FSA is, however, proposing to extend until 30 June 2009 its short-selling disclosure regime subject to one modification in respect of the disclosure required in respect of changes in net short positions. The FSA's consultation paper is of interest because it contains an attempt to quantify the costs and benefits of the disclosure regime. More detailed discussion can be expected in a further consultation paper, to be published within the next month, in which the FSA will set out its long-term proposals for the short-selling regime.
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