Overview
The European Union (EU) Short Selling Regulation (SSR) rules can often trigger alerts that users identify as false positives. This typically occurs because official exempt lists from the European Securities and Markets Authority (ESMA) may be outdated.
To address this, FundApps provides a Reject and Remember workflow. This functionality allows users to temporarily suppress specified International Securities Identification Numbers (ISINs) from being captured by the SSR EU/EEA rules
What This Means
Instead of repeatedly rejecting the same disclosure alert every time a threshold is crossed, you can add an ISIN to a custom exempt list. The instrument will remain out of scope for the selected rule until a user-defined Effective Until date is reached.
How to Activate the Workflow
Follow these steps to suppress an ISIN and add it to the custom exempt list:
Navigate to the Results Details page for the relevant disclosure alert.
Select the Reject and Remember button located in the top-right corner.
Enter a reason for the rejection and define an Effective Date range to set the duration of the exemption.
Managing Custom Exempt Lists
You can review and manage all manually exempted instruments directly within the platform.
Navigate to Monitoring > Shareholding Disclosure > Rules > Regulatory Data > Short Selling to find the custom exempt list for the EU/EEA.
Users can review, download, edit, or delete any existing entries.
If you edit an entry (e.g., extending the Effective Date), the system creates a new entry. The original entry is updated with a Went Off date to maintain an audit trail.
The page will display only exemptions that were active on the selected date in the date picker.
Important Notes
Users are responsible for maintaining these custom lists to ensure issuer reportability remains accurate.
Failure to update these lists correctly can result in missed short-selling disclosures.
We recommend adding an Effective Until date to every entry. Once this date passes, the issuer will resume triggering alerts, serving as a reminder to review whether the exemption is still valid.
This functionality is no longer applicable to the SSR UK rules, as they moved from an exempt-list model to a Reportable Shares List (RSL) model in July 2026, discussed in further detail here.