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