In this podcast my partner, Anna Lawry, and I consider the Short Selling Regulation (SSR), which came into force in 2012, what it covers and what lessons we can learn from the first enforcement action by the FCA in October 2020.

We highlight three key takeaways:

  • That firms should seek specific, tailored legal advice with respect to their regulatory obligations, rather than relying on third party materials.
  • The FCA expects to be notified of any breaches as soon as possible following discovery.
  • Following the end of the Brexit transition period, the SSR will be “onshored” into UK law through the Short Selling (Amendment) (EU Exit) Regulations, meaning that further enforcement action should be anticipated.