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AIMA calls on FSA to justify its short selling rules

The Alternative Investment Management Association is calling on the FSA to release the findings of any investigations that led to the implementation of its new disclosure rules on short selling.

AIMA says it also wants clarification on issues that it believes are outstanding in the definitions, scope and implementation of the regime.

AIMA has queried the FSA on technical issues and is questioning its justification for the use of special powers under the Financial Services and Markets Act 2000 to take this measure without consultation.

AIMA unsuccessfully sought a delay to the implementation of the regime earlier this week.

A spokesman says: “The FSA has not delayed implementation of the regime, thus AIMA is now in consultation with our membership as to the options available to them to best address the FSA’s regulatory framework for short-selling.”

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