The European Commission has published the text of a Delegated Regulation that it has adopted which is designed to correct an earlier Delegated Regulation concerning the notification of significant net short positions in sovereign debt.
The adopted Delegated Regulation amends the first sentence of Article 13(3) of the Delegated Regulation by inserting the following new sentence:
“When a net short position reaches or crosses the notification threshold in accordance with Articles 5 and 7 or the disclosure threshold in accordance with Article 6 of Regulation (EU) No 236/2012, a legal entity within the group shall report and disclose in accordance with Articles 5 to 11 of Regulation (EU) No 236/2012 the net short position in a particular issuers calculated according to paragraph 1 provided that no net short position at group level calculated according to paragraph 2 reaches or crosses a notification or disclosure threshold.”
The adopted Delegated Regulation enters into force on the twentieth day following its publication in the Official Journal of the EU.
View Commission Delegated Regulation of 17.10.2014 correcting Delegated Regulation (EU) No 918/2012 as regards the notification of significant net short positions in sovereign debt, 17 October 2014