AFM follows CONSOB’s short sell measure concerning Banca Popolare di Milano


The AFM announces that it has implemented a measure on the basis of Article 23 of the European Short Selling Regulation in order to temporarily prohibit short selling in shares Banca Popolare di Milano.

The AFM is implementing this measure because the price of Banca Popolare di Milano decreased significantly on a trading platform in a single trading day when compared with the closing price of the previous trading day.

This was done pursuant to the announcement of CONSOB dated 14 April 2014 concerning Banca Popolare di Milano. 

  1. Scope
    a) Financial instrument(s) concerned:
    Banca Popolare di Milano (BPM) (ISIN code: IT0000064482)
    b) Trading venue concerned: NYSE Arca Europe

  2. Nature of the emergency measure
    Short sale prohibition
    Who is concerned: every natural person and legal entity. 

  3. Reasons for the measure
    Following CONSOB’s short sell measure. 

  4. Exemptions to the measure
    Marketing activities, as determined in Article 2(1)(k) of the Short Selling Regulation.

  5. Entering into force of the measure and duration
    Date: 14 April 2014
    Duration: until the end of 15 April 2014

The AFM is committed to promoting fair and transparent financial markets.

As an independent market conduct authority, we contribute to a sustainable financial system and prosperity in the Netherlands.

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