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The Board of the Autorité des marchés financiers (AMF) reassessed in early November 2011 the ban on
the taking of net short positions in ten French securities of the financial sector (as listed in the related
decision).
The Board of the AMF considered that the market conditions were not satisfactory to lift the said ban. The
AMF Chairman therefore proposed to the Minister for the Economy, Finance and Industry to extend it[[Pursuant to Article L. 421-16-II of the Monetary and Financial Code, the extension of this measure required the
publication of a decree by the Minister for the Economy, Finance and Industry as such measure had been effective for 3
months (as from 11 August 2011).]].
The Minister decided to respond favourably to this proposal by taking a decree which was published in the Official Journal dated 10 November 2011.
As a consequence thereof, the ban on the taking of net short positions and on the increasing of existing net short positions, in relation to the equity securities and the securities giving access to the share capital
of the following credit institutions and insurance companies, remains unchanged:
– April Group
– Axa
– BNP Paribas
– CIC
– CNP Assurances
– Crédit Agricole
– Euler Hermès
– Natixis
– Scor
– Société Générale
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