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WFE Focus April 2011
Regulation

Hellenic Capital Market Commission suspends short selling

On 8 August 2011, the Board of Directors of the Hellenic Capital Market Commission decided to temporarily ban short selling of shares and units of ETFs listed in the Athens Exchange irrespective of the venue where the transaction is executed (regulated markets, Multilateral Trading Facilities or over the counter). The ban includes covered short sales and sales which are settled with subsequent intraday purchases. This decision shall take effect from 9 August 2011 and shall remain in force up to and including 7 October 2011.

NYSE Liffe gains approval to offer direct access in Brazil

NYSE Liffe, the Europe-based derivatives business of NYSE Euronext, received regulatory approval from Brazil’s Securities and Exchange Commission, the Comissão de Valores Mobiliários (CVM), to offer direct electronic access to its London market with immediate effect. The CVM’s decision to grant approval enables customers in Brazil to benefit from direct access to NYSE Liffe’s short term interest rate, bond, swap note, equity and commodities futures and options. Alternatively, Brazilian firms can continue to make use of non-direct (intermediated) access for the execution of their NYSE Liffe business.

Securities Commission of Malaysia revises guidelines for corporate bonds and sukuk

The Securities Commission Malaysia issued the revised Private Debt Securities Guidelines, Sukuk Guidelines and Trust Deed Guidelines to enhance the regulatory framework for fundraising and product regulation in the private debt securities and sukuk markets. These revisions aim at achieving higher levels of operational efficiency, enhanced standards for fair and ethical business practices and strengthen internal controls for business conduct and risk management. 

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