Commission Delegated Regulation (EU) 2015/97 of 17 October 2014 correcting Delegated Regulation (EU) No 918/2012 as regards the notification of significant net short positions in sovereign debt  Text with EEA relevance

23.1.2015 EN Official Journal of the European Union L 16/22
COMMISSION DELEGATED REGULATION (EU) 2015/97
of 17 October 2014
correcting Delegated Regulation (EU) No 918/2012 as regards the notification of significant net short positions in sovereign debt
(Text with EEA relevance)
THE EUROPEAN COMMISSION
,
Having regard to the Treaty on the Functioning of the European Union,
Having regard to Regulation (EU) No 236/2012 of the European Parliament and of the Council of 14 March 2012 on short selling and certain aspects of credit default swaps (1), and in particular Article 3(7) thereof,
Whereas:
(1) Article 13 of Commission Delegated Regulation (EU) No 918/2012 (2) specifies, according to the empowerment provided in Article 3(7)(c) of Regulation (EU) No 236/2012, the method of calculating positions for legal entities within a group that have long or short positions in relation to a particular issuer. Article 13 of Delegated Regulation (EU) No 918/2012 provides the method of calculating positions both for issued share capital and issued sovereign debt. However, Article 13(3) of Delegated Regulation (EU) No 918/2012 currently only refers to the notification threshold of Article 5 of Regulation (EU) No 236/2012, on significant net short positions in shares, while it should also refer to the notification threshold of Article 7 of Regulation (EU) No 236/2012 on significant net short positions in sovereign debt.
(2) To avoid legal uncertainty, Delegated Regulation (EU) No 918/2012 should therefore be corrected accordingly,