Austrians extend naked short ban 25 May 2010Vienna Reporter:
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The Austrian Financial Market Authority (FMA) extends the current temporary ban on naked short selling of shares of Erste Group Bank AG, Raiffeisen International Bank-Holding AG, UNIQA Versicherungen AG and WIENER STAEDTISCHE Versicherung AG Vienna Insurance Group
Austria's Financial Market Authority FMA has extended its temporary prohibition on naked short selling in the cash market of shares of Erste Group Bank AG, Raiffeisen International Bank-Holding AG, UNIQA Versicherungen AG and WIENER STAEDTISCHE Versicherung AG Vienna Insurance Group by regulation; it is entering in force on 25 May, 2010 and is valid until 30 November 2010. This measure is based on Article 48d par. 12 of the Boersegesetz (Stock Exchange Act). Only short-term naked short sale positions taken by market makers or specialists within the scope of their contractual obligations are exempt from the prohibition.
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