Portugal tightens short selling rules 16 July 2010Lisbon Reporter:
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The new regulation - 4/2010 - extends the requirement for mandatory reporting of short interest to the CMVM. It replaces rule 4/2008.
Reporting is now applicable to all shares that are admitted to trading on a regulated market or multilateral trading. Previously this only applied to the shares of companies included in the PSI-20.
The threshold for reporting to the CMVM is now 0.20 per cent (previously 0.25 per cent), and disclosure to the market must be made at 0.50 per cent. All increases and decreases in significant short interests exceeding thresholds of 0.1 per cent must also be reported and disclosed.
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