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Can telephone call registrations be considered as a durable medium for the purpose of evidencing the existence of an agreement to borrow or other enforceable claim under Article 5 of the ITS, or of arrangements, confirmations and instructions under Article 6 and 7 of the ITS (Commission Implementing Regulation EU No 827/2012)?

In case of a short sale and a same time cover through a repo transaction, Article 5 of the ITS requires this being “for the duration of the short sale”. However, in practise, the duration of the short position resulting from that the short sale is unknown and that position is covered by a repo that is rolled at maturity as long as the short position exists. Would such an extension of the repo be possible and cover the requirement of the Regulation?

In the case of a group, both the group and the legal entity within the group acquire positions that exceed the 0.2% threshold simultaneously. Subsequently, only the group’s position falls below the 0.2% threshold. Should the legal entity within the group then report even though it has not crossed up or down another threshold?

In the case of a group,
a) What if the group and the legal entity within the group cross different thresholds, or they cross the same threshold in different directions?
b) If the legal entity within the group exceeds the 0.5% threshold and, at the same time, the group exceeds the 0.2% threshold, would the legal entity within the group still have reporting/disclosing obligation?

In a group constituted of several legal entities, including management entities, should the short positions of the management entities arising from their ‘non-management activities’ be aggregated with those of the legal entities not performing management activities as part of the ‘group position’ for reporting, or should they be reported separately?