ESMA_QA_1893

Status: ✅ Answer Published

Link to ESMA Q&A tool: https://www.esma.europa.eu/publications-data/questions-answers/1893

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Regulatory Context

Regulation : SSR

Level 1 Regulation: Short Selling Regulation (SSR) Regulation (EU) No 236/2012

Level 2 Regulation: No information available

Level 3 Regulation: No information available

Topic: Scope

Subject Matter: GDRs and ADRs

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Question

Submission Date: 29 January 2013

Should Global Depository Receipts (GDR) and American Depository Receipts (ADR) be included in the definition of shares for the purposes of article 12 of the Regulation?

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ESMA Answer

Answer Date: 29-01-2013

[ESMA70-145-408 SSR Q&A, Q&A 4.6] No, GDR and ADR are not shares for the purpose of Article 12 of the Regulation. However, for the purpose of notification of net short position GDR and also ADR should be taken into account for the calculation (Articles 5 and 6 supplemented by Annex I of the DR)

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This document was automatically extracted from the ESMA EMIR Q&A database.