The European Securities and Markets Authority is poised to submit technical standards to the European Commission regarding short selling and credit default swaps. The rules themselves will be published soon.
In November 2011 the Council and the Parliament voted on a Regulation on short selling and certain aspects of credit default swaps. This is about to be published and should be applicable from 1 November 2012. According to the Regulation ESMA has to submit its technical standards to the Commission by 31 March 2012.
ESMA publishes today the responses received to the consultation the draft technical standards. ESMA will consider the feedback it received to this consultation in February/March 2012 and expects to publish a final report and submission of the draft technical standards to the European Commission by 31 March 2012 for endorsement.