Short Selling Regulation Art. 15: every consolidated version and what changed

Short Selling Regulation · 32012R0236 · every version of this act · on EUR-Lex (external, EUR-Lex)

3 changes recorded across 2 versions, newest first.

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Version in force 16 January 2024, Modified ±0§

Amended by Regulation (EU) 2023/2845 32023R2845 on EUR-Lex (external, EUR-Lex)

Applies from: no date changed

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Previous version, in force 9 January 2024 02012R0236-20240109 → this version, in force 16 January 2024 02012R0236-20240116

Article 15 Buy-in procedures 1. A central counterparty in a Member State that provides clearing services for shares shall ensure that procedures are in place which comply with all of the following requirements: (a) where a natural or legal person who sells shares is not able to deliver the shares for settlement within four business days after the day on which settlement is due, procedures are automatically triggered for the buy-in of the shares to ensure delivery for settlement; (b) where the buy-in of the shares for delivery is not possible, an amount is paid to the buyer based on the value of the shares to be delivered at the delivery date plus an amount for losses incurred by the buyer as a result of the settlement failure; and (c) the natural or legal person who fails to settle reimburses all amounts paid pursuant to points (a) and (b). 2. A central counterparty in a Member State that provides clearing services for shares shall ensure that procedures are in place, which ensure that where a natural or legal person who sells shares fails to deliver the shares for settlement by the date on which settlement is due, such person must make daily payments for each day that the failure continues. The daily payments shall be sufficiently high to act as a deterrent to natural or legal persons failing to settle.

Version in force 16 January 2024, Modified§

Amended by Regulation (EU) 2023/2845 32023R2845 on EUR-Lex (external, EUR-Lex)

Applies from: no date changed

Kinds differWhat this means

Explanation, written by a model and checked against the cited text

The provision no longer contains a separate numbered paragraph 2 requiring daily payments from a person who fails to deliver shares by settlement date, nor the following sentence requiring those payments to be sufficiently high to act as a deterrent.

The remaining text, previously labeled as paragraph 1, is no longer numbered and instead runs as the sole introductory statement before points (a) to (c), with the phrase "within four business days after the day" changed to "within four business days of the day".

Cited: Art. 15, v1 (external, EUR-Lex) · Art. 15, v2 (external, EUR-Lex)

v1 is the previous version, v2 this one.

Text from EUR-Lex, on this version's page

Version in force 17 September 2014, Deleted§

Amended by Regulation (EU) No 909/2014 32014R0909 on EUR-Lex (external, EUR-Lex)

Applies from: not readable why

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A source lists it, but there is no text to show — the EU's own amendment metadata and the amending act's instructions found this change; the text comparison finds no difference in the provision's text. Two sources name it, and neither carries any text. All are shown; none is overruled.

No explanation shipped — the text comparison did not see this change, so it carries no text; another source named the provision, and it is listed where sources differ.

Text from EUR-Lex, on this version's page