On 31 March 2020, the FCA updated its statement on short selling bans and reporting as follows:

“On 16 March 2020, the European Securities and Markets Authority (ESMA) issued a decision to temporarily amend the threshold for notifying net short positions to Competent Authorities under the SSR [Short Selling Regulation] from 0.2% of issued share capital to 0.1%.

We confirmed that this decision would apply in the UK. However, we stated that systems changes would be required and firms should continue to report at the previous thresholds until further notice.

We can now confirm that the required changes to our systems have been made. We will be ready to receive notifications at the lower threshold from Monday 6 April 2020. Firms are not required to amend and resubmit notifications submitted to us between 16 March 2020 and 3 April 2020.

Firms should make best efforts to report at the lower threshold from this date. However, we appreciate that it may not be possible for some firms to amend their systems by this date. If this is the case, please contact PMU@fca.org.uk to discuss further.

In line with the SSR, the new reporting obligation will apply to shares for which the FCA is the relevant competent authority and not to exempted shares where the principal venue for the trading of the shares is located outside of the EU.”