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Commission Implementing Regulation (EU) No 827/2012Show full title
Commission Implementing Regulation (EU) No 827/2012 of 29 June 2012 laying down implementing technical standards with regard to the means for public disclosure of net position in shares, the format of the information to be provided to the European Securities and Markets Authority in relation to net short positions, the types of agreements, arrangements and measures to adequately ensure that shares or sovereign debt instruments are available for settlement and the dates and period for the determination of the principal venue for a share according to Regulation (EU) No 236/2012 of the European Parliament and of the Council on short selling and certain aspects of credit default swaps (Text with EEA relevance)
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Commission Implementing Regulation (EU) No 827/2012, CHAPTER V is up to date with all changes known to be in force on or before 02 January 2026. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
EUR 2012 No. 827 may be subject to amendment by EU Exit Instruments made by the Financial Conduct Authority under powers set out in The Financial Regulators' Powers (Technical Standards etc.) (Amendment etc.) (EU Exit) Regulations 2018 (S.I. 2018/1115), regs. 2, 3, Sch. Pt. 1. These amendments are not currently available on legislation.gov.uk. Details of relevant amending instruments can be found on their website/s.
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- Regulation revoked by 2023 c. 29 Sch. 1 Pt. 1 3
CHAPTER VU.K. DETERMINATION OF THE PRINCIPAL TRADING VENUE FOR THE EXEMPTION [ARTICLE 16 OF REGULATION (EU) No 236/2012]
Article 9U.K.Date and period for principal trading venue calculations
1.Relevant competent authorities shall make any calculations determining the principal trading venue for a share by at least 35 calendar days before the date of application of Regulation (EU) No 236/2012 in respect of the period between 1 January 2010 and 31 December 2011.
2.Subsequent calculations shall be made before 22 February 2014 in respect of the period between 1 January 2012 and 31 December 2013, and every two years thereafter in respect of the subsequent two year period.
3.Where the share concerned was not admitted to trading during the whole two-year period on the trading venue in the Union and the third country trading venue, the period for calculation shall be the period during which the share was admitted to trading on both venues concurrently.
Article 10U.K.Date of notification to ESMA
Relevant competent authorities shall notify ESMA of those shares for which the principal trading venue is outside the Union at least 35 calendar days before the date of application of the Regulation (EU) No 236/2012 and thereafter on the day before the first trading day in March every second year commencing from March 2014.
Article 11U.K.Effectiveness of the list of exempted shares
The list of shares for which the principal trading venue is located outside the Union shall be effective as of 1 April following its publication by ESMA, except that the first list published by ESMA shall be effective from the date of entry into application of Regulation (EU) No 236/2012.
Article 12U.K.Specific cases of review of exempted shares
1.A relevant competent authority which determines whether the principal trading venue for a share is located outside the Union following one of the circumstances set out in paragraph 2 shall ensure that:
(a)any calculations determining the principal trading venue are made as soon as possible after the relevant circumstances arise and in respect of the two year period preceding the date of calculation;
(b)it notifies ESMA of its determination as soon as possible and, where relevant, before the date of admission to trading on a trading venue in the Union.
Any revised list shall be effective from the day following that of its publication by ESMA.
2.The provisions of paragraph 1 apply when:
(a)the shares of a company are removed from trading on a permanent basis on the principal venue located outside the Union;
(b)the shares of a company are removed from trading on a permanent basis on a trading venue in the Union;
(c)the shares of a company that was previously admitted to trading in a trading venue outside the Union are admitted to trading on a trading venue in the Union.
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