Temporary ban on net short positions: Banca Monte dei Paschi di Siena and Banca Carige (extension)

The Financial Conduct Authority (“FCA”) would like to draw the industry’s attention to the announcement by the Italian Commissione Nazionale per le Società e la Borsa (CONSOB) today which restricts transactions under Article 20 (2) (b) of Regulation (EU) No 236/2012 of the European Parliament and of the Council of 14 March 2012. This is an extension of the ban previously imposed on 28 October 2014.

The emergency measure renews the ban on the creation of new net short positions, and the increase of already existing net short positions, on shares issued by Banca Monte dei Paschi di Siena spa (IT0004984842) and Banca Carige spa (IT0003211601). It concerns the following financial instruments:

  • Shares of Banca Monte dei Paschi di Siena spa (IT0004984842);
  • Shares of Banca Carige spa (IT0003211601);
  • All related instruments included in the calculation of the net short position in accordance with Regulation (EU) N0 236/2012 and Commission Regulation (EU) No 918/2012 of 5 July 2012, with the exception of indices-related instruments.

This measure is effective from immediately until the end of trading on the 27 January 2015.

The exact scope of this measure, including exemptions, is specified in the statement issued by CONSOB.