SHORT TRADING IN UK CFDs AND STOCKS

The UK’s Financial Services Authority (FSA) has banned short-selling of UK financial stocks from the start of business Friday 19 September 2008. This affects the short-selling of CFDs on UK financial stocks. The ban will be in place until 16 January 2009 although it will be reviewed after 30 days.

This does not affect clients with short positions established prior to the ban announced by the FSA on 18 September 2008.

The CFDs no longer available for short-selling are:

ABERDEEN ASSET MANAGEMENT PLC	ISLAMIC BANK OF BRITAIN PLC
ADMIRAL GROUP PLC	JUST RETIREMENT HOLDINGS PLC
ALLIANCE & LEICESTER PLC	LEGAL & GENERAL GROUP PLC
ALLIANCE TRUST PLC	LLOYDS TSB GROUP PLC
ARBUTHNOT BANKING GROUP PLC	LONDON SCOTTISH BANK PLC
AVIVA PLC	NOVAE GROUP PLC
BARCLAYS PLC	OLD MUTUAL PLC
BRADFORD & BINGLEY PLC	PROVIDENT FINANCIAL PLC
BRIT INSURANCE HOLDINGS PLC	PRUDENTIAL PLC
CHESNARA PLC	RESOLUTION PLC
CLOSE BROTHERS GROUP PLC	ROYAL BANK OF SCOTLAND GROUP PLC
EUROPEAN ISLAMIC INVESTMENT BANK PLC	RSA INSURANCE GROUP PLC
F&C ASSET MANAGEMENT PLC	SCHRODERS PLC
FRIENDS PROVIDENT PLC	ST JAMES'S PLACE PLC
HBOS PLC	STANDARD CHARTERED PLC
HIGHWAY INSURANCE GROUP PLC	STANDARD LIFE PLC
HSBC HOLDINGS PLC	TAWA PLC
INVESTEC PLC

A copy of the full announcement is available here

RISK WARNING: Please note that the value of your investments may rise or fall depending on market conditions and that you may not always recoup your initial investment. Trading in Derivatives or Options carries a high degree of risk and is not suitable for all investors. The gearing or leverage available in Derivatives trading means that a relatively small movement in price can lead to proportionally large losses or gains. Consequently you may lose more than your initial deposit.

Please ensure that you fully understand the risks involved prior to transacting on your account and seek expert advice if necessary.

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