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Reliance on external compliance leads to first fine under Short Selling Regulation

Compliance Monitor

Reliance on external compliance leads to first fine under Short Selling Regulation

TheFCA has taken enforcement action for the first time under the Short SellingRegulation 2012 (SSR) — by fining a Hong Kong hedge fund in relation to the“largest net short position ever held” in a company floating on the main marketof the London Stock Exchange. A lack of in-house compliance expertise is seenby the regulator as a major cause of the breach.

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