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EU court rejects British call for short-selling ban

Published on Jan 22, 2014 5:33 PM

LUXEMBOURG (AFP) - The European Court of Justice on Wednesday ruled that the power of an EU securities authority to ban short-selling was compatible with European Union law.

The ruling followed a May 2012 action brought by Britain regarding the power of the European Securities and Markets Authority (ESMA) to adopt emergency measures at times of stress on the financial markets of member states to regulate or prohibit short selling.