UK’s FCA concludes first SSR enforcement against Premier Oil short seller

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The UK’s Financial Conduct Authority (FCA) has taken its first-ever enforcement action for a breach of the Short Selling Regulation (SSR).

The market regulator has fined Hong Kong-based asset management firm Asia Research and Capital Management (ARCM), for failing to disclose its massive net short position in Premier Oil, a UK oil company, which it opened in February 2017 and built to 16.85 percent of issued share capital by July 2019.

 

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