Norway's regulator unable to take new shorting data
03 January 2017 Oslo
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Norwegian short sellers are currently unable to fulfil new short selling disclosure requirements due to the Norwegian Financial Supervisory Authority (NFSA) website experiencing ‘technical problems’.
Norway’s new short selling disclosure rules came into effect on 1 January, with the relevant reporting platform due to launch on 2 January to receive the data.
However, at time of writing, the Finanstilsynet website only displays the message: “Due to technical problems that prevent some users from completing registration and submitting positions, the short selling register might currently not disclose all positions legally required by the short selling regulation. Finanstilsynet is working on resolving these issues.”
Under the new rules, a short seller must notify the NFSA if its net short position becomes larger than 0.2 percent of the share capital of the issuer.
If the position moves by 0.1 percent in either direction then additional reporting is required.
Net short positions in Norwegian sovereign debt are also included in the reporting rules.
Short sellers are expected to disclose all relevant data by midnight on trading day and by 15:30 local time on the following trading day for a change in net short position.
Norway’s new short selling disclosure rules came into effect on 1 January, with the relevant reporting platform due to launch on 2 January to receive the data.
However, at time of writing, the Finanstilsynet website only displays the message: “Due to technical problems that prevent some users from completing registration and submitting positions, the short selling register might currently not disclose all positions legally required by the short selling regulation. Finanstilsynet is working on resolving these issues.”
Under the new rules, a short seller must notify the NFSA if its net short position becomes larger than 0.2 percent of the share capital of the issuer.
If the position moves by 0.1 percent in either direction then additional reporting is required.
Net short positions in Norwegian sovereign debt are also included in the reporting rules.
Short sellers are expected to disclose all relevant data by midnight on trading day and by 15:30 local time on the following trading day for a change in net short position.
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