Retained EU Law
2012
United Kingdom
Commission Delegated Regulation (EU) No 918/2012 of 5 July 2012 supplementing Regulation (EU) No 236/2012 of the European Parliament and of the Council on short selling and certain aspects of credit default swaps with regard to definitions, the calculation of net short positions, covered sovereign credit default swaps, notification thresholds, liquidity thresholds for suspending restrictions, significant falls in the value of financial instruments and adverse events (Text with EEA relevance)
At a glance
What this Act requires
Sections that create concrete duties on businesses or carry penalties. Procedural and definitional sections are folded into the “Browse other sections” expander at the bottom of each group. Click any section title to read the source text on legislation.gov.uk.
Browse 27 other sections — procedural / definitional / commencement
Definitions
Specification of the term ‘ownership’ and defining a short sale
Holding
Net short positions in shares — long positions
Net short positions in shares — short positions
Net short positions in shares — general
Net short position in sovereign debt — long positions
Net short positions in sovereign debt — short positions
Method of calculation of net short positions in relation to shares
Calculation of net short positions for sovereign debt
Method of calculating positions for management activities related to several funds or managed portfolios
Method of calculating positions for legal entities within a group that have long or short positions in relation to a particular issuer
Cases which are not uncovered sovereign credit default swap positions
Cases which are not uncovered sovereign credit default swap positions where the obligor is established or the asset or liability is located in the United Kingdom and a third country
Justification of uncovered sovereign credit default swap positions
Hedged assets and liabilities
Correlation tests
Proportionality
Method of calculation of an uncovered sovereign credit default swap position
Notification thresholds for net short positions relating to the issued sovereign debt
Methods for calculating and determining the threshold of liquidity for suspending restrictions on short sales in sovereign debt
Significant fall in value for financial instruments other than liquid shares
Criteria and factors to be taken into account in determining when adverse events or developments and threats arise
Entry into force
(1) Any derivative and cash position shall be accounted for...
(1) Any cash positions shall be taken into account using...
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