Spain’s move to demand more disclosure on short positions in all its listed companies could discourage hedge funds from investing in the country.
The Spanish stock market regulator, Comisión Nacional del Mercado de Valores (CNMV), announced on May 27 that it would implement the disclosure regime recommended by the Committee of European Securities Regulators (Cesr) in March this year.
But the low threshold that this sets for disclosure of short positions in all listed companies on the Spanish stock exchange means that...