UK to fight EU short selling curbs
12 May 2011 London
Image: Shutterstock
The UK is to argue that EU proposals granting European regulators the power to ban short selling during financial crises may be unworkable.
According to a document obtained by Bloomberg, the UK will argue the final say over any bans should be down to the nation states within the EU, rather than the bloc's regulator.
The UK has long been expected to come out against curbs on short selling, following the European Parliament's announcement that it is considering such rules. Other European nations, notably Poland and Denmark, are also likely to fight any new legislation, while Germany is the leading member in favour of such moves.
According to a document obtained by Bloomberg, the UK will argue the final say over any bans should be down to the nation states within the EU, rather than the bloc's regulator.
The UK has long been expected to come out against curbs on short selling, following the European Parliament's announcement that it is considering such rules. Other European nations, notably Poland and Denmark, are also likely to fight any new legislation, while Germany is the leading member in favour of such moves.
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