FCA updates net short position notification process

The FCA has changed the process by which firms must report their net short positions in UK-listed shares or sovereign debt which are reportable under the European Union Short Selling Regulation (Regulation 236/2012) (the SSR). With effect from 24 February 2020, firms must report positions to the FCA via the FCA’s Electronic Submission System (ESS) by 3.30p.m. (London time) on the trading day after the position was reached. Prior to the launch of the ESS, reporting was completed by firms sending an email to the FCA attaching a completed notification form.

Further information as to the reporting thresholds and the new ESS is provided by the FCA here.