Effective 11 February 2012, France has lifted the prohibition on any creation of a net short position and increase of an existing one in relation to
French equity securities of the financial sector (as listed below):
As a consequence thereof, the prohibition of short sales regarding equity securities and securities giving
access to the share capital of the following credit institutions and insurance companies is lifted:
- April Group
- BNP Paribas
- CNP Assurances
- Crédit Agricole
- Euler Hermès
- Société Générale
The Autorité Des Marchés Financiers (AMF) recalls that, with regard to equity securities, a net short position disclosure regime has been
implemented since 1 February 2011.
The AMF further highlights that pursuant to French regulation, any investor must be in a position to deliver
the securities that have been sold, within 3 trading days (T+3).