France ends short selling ban on French financial securities

February 24, 2012 − by unityadmin − in News

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
- Axa
- BNP Paribas
- CIC
- CNP Assurances
- Crédit Agricole
- Euler Hermès
- Natixis
- Scor
- 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).