Key points from the Short Selling Regulation:

• It requires notification to the UK Financial Services Authority (FSA) (or other relevant EU MiFID competent authority) where "net shorts" reach or fall below 0.2 per cent of issued share capital and each 0.1 per cent above that (Private Disclosure).

• It requires (in addition to Private Disclosure) public notification at the 0.5 per cent level and each 0.1 per cent above that (Public Disclosure).

• It prohibits short sales of shares unless the shares have been borrowed or are the subject of an enforceable claim or the subject of other specific arrangements defined and prescribed in the Regulation and related regulations.



To see latest declaration go to

http://www.fsa.gov.uk/static/pubs/international/short-positions-daily-update.xls

"• It prohibits short sales of shares unless the shares have been borrowed or are the subject of an enforceable claim or the subject of other specific arrangements defined and prescribed in the Regulation and related regulations."



I thought that was the case previously but no one ever gave two monkeys. I certainly didn't with MDX :-)

Martini; Yes if they have net short position on a specific stock but usually they get natural hedge with some punters long and some short.

M