UK fights EU short-sell ban

Michael Bow
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THE UK government yesterday launched a legal challenge in the European Court of Justice against proposed EU regulations banning the short selling of shares.

The European Securities and Markets Authority last year won authority to restrict or outlaw the practice but now the UK is fighting back by challenging its legality in court. Barristers for the UK yesterday argued the rules were a breach of European treaties. A decision is expected in the Autumn.