Austria’s Financial Market Authority FMA has extended the temporary prohibition, limited to 30 November 2010, on naked short selling in the cash market of shares of Erste Group Bank AG, Raiffeisen Bank International AG, UNIQA Versicherungen AG and VIENNA INSURANCE GROUP AG Wiener Versicherung Gruppe by regulation to 31 May 2011. This measure is based on Article 48d para. 12 of the Börsegesetz (Stock Exchange Act). Only short-term naked short sale positions taken by market makers or specialists within the scope of their contractual obligations are exempt from the prohibition.
Klaus Grubelnik (FMA Media Spokesperson)
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