Just to Be Clear: Italy Not Banning Short Selling, Just Asking Really Nicely

Not satisfied with taking down the names of everyone shorting Italian stocks so it could give them disappointed looks and ask them if they feel good about themselves for making Nonna cry over her lost pension, Italian securities regulator Consob has started using a little “moral suasion” to get their buddies to cut them off.

Italy’s market regulator has recommended to stakeholders who have lent shares in Italian companies to retrieve them, Consob head said on Wednesday, confirming reports of a move aimed at curbing short-selling. “Yes, we’ve exercised moral suasion by asking all those who have lent shares to retrieve them,” Consob Chairman Giuseppe Vegas told journalists on the sideline of a conference.

He added the request was not binding.

If share lending dries up, short sellers will need to resort to naked shorting. Which, wait … still seems to be legal in Italy?

Italy regulator asks stakeholders not to lend shares [Reuters]

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18 Responses to “Just to Be Clear: Italy Not Banning Short Selling, Just Asking Really Nicely”

  1. Texashedge says:

    Consob? Really? That’s the name they went with?

  2. Corleone Capital Mgmt says:

    You come to me on the day of my daughter’s wedding to recall my Intesa borrow?  What have I done to deserve this disrespect?

  3. Anonymous says:

    In America I can sell shorts or pants, even outerwear. 

    -Jos. A. Bank

    • bloombergradio says:

      You mean JOHsef AYE BAYnk

    • Put_Option says:


      In these uncertain times its refreshing to know people like you and I are out there creating quality, yet affordable, men’s clothes that look good in the board room or on the beach. Our stores are even near each other on Madison ave in Midtown. We should combine our impressive textiles and business savvy. Because, let’s face it, the Italians know nothing of fashion. You’re going like the way we work together; I guarantee it.

      – George Zimmer

    • guy who misses things says:

      When is you next sale, I wouldn’t want to miss it?

      • Anonymous says:

        Yea. When? I need some sharp new suits since I will be working in Manhattan.

        -UBS MD

    • Bahaha says:

      I’m laughing all the way to the bank….

      – JOSB shareholder

  4. Guest says:

    In Italy shorts mi scusi YOU!

  5. Anonymous says:

    At the close of the informal confab, Vegas leaned in to one reporter’s dictaphone, kissed the mike, and whispered, “You broke my heart, naked shorts.”

  6. Gues says:

    If Italians stop lending their shares where will their income come from?

  7. Guesticles says:

    Is there a single non-shit tier Italian bank? Do the Italians even have electricity?

  8. Michael says:

    But the sec lender said no. The next day, Don Confab brought with him Luca Brasi to make him an offer he could not refuse. He assured him that either his securities or his brains would be on the inventory.

    • I'm a Dude says:

      Charles “Gasbag” Gasparino is my Luca Brasi

      -Consob Consigliere Giuseppe Vegas

  9. Greasy tufts of body hair says:

    You shorta my stock, I breaka you face!

    -Guy with a last name ending in a vowel.