FCA Says Won't Pursue Firms That Fail To Report Short Sales

By Najiyya Budaly (January 14, 2022, 12:39 PM GMT) -- The City watchdog has said that it will not act against businesses that fail to report a transaction as a short sale, as the U.K. considers whether to revamp its trade reporting regime after Brexit.

The Financial Conduct Authority said on Thursday that it will not go after firms that do not meet European rules which the U.K. had written into domestic law before the country left the EU. The Markets in Financial Instruments Regulation, or MiFIR, forces banks and other firms in the sector that work in the European Union to disclose — in reports to the regulator — transaction...

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