Market conditions no longer an obstacle to short selling in Kredittilsynet’s view
Press Release
In press releases of 8 and 9 October 2008 Kredittilsynet announced that investment firms and investors making short sales, covered or uncovered, in shares or primary capital certificates issued by financial institutions would in the agency’s view be acting in contravention of the Securities Trading Act section 3-9 prohibiting unreasonable business methods. The announcement was prompted by the extraordinary market situation and unusual market movements.
The market situation has changed and is now of such a nature that trading short in the shares and primary capital certificates in question is no longer considered on a general basis to contravene the Securities Trading Act section 3-9. The Securities Trading Act’s requirements in relation to covered short selling remain in effect.
Contact persons:
Deputy Director General Eirik Bunæs, tel. +47 22 93 98 18, mobile: +47 911 65 817
Head of Section Britt Hjellegjerde, tel. + 47 22 93 97 24, mobile: 932 55 502
Senior Supervisory Adviser Lisbeth Økland, tel. +47 22 93 98 26
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Contact persons in the Communications Unit:
Head of Communications Kjetil Karsrud, tel. +47 22 93 99 34, mobile: +47 906 57 621
Senior Communications Adviser Arild Eide Johansen, tel. +47 22 93 99 94,
mobile: +47 971 52 011
