Gaps remain in EC short-selling rules

Author: | Published: 22 Sep 2010

Though the EC proposals for a regulation on short selling and credit default swaps (CDS) stretch to 43 pages, a great deal of technical detail still needs to be finalised. The industry must continue to engage to shape the final rules.

“This just sets out framework from a European level,” said James Starky, chief legal officer at Cairn Capital, at a meeting of the International Swaps and Derivatives Association (Isda) in London yesterday. “There’s an awful lot of detail still to be worked out on the technical standards.”