© Reuters
SEOUL (Reuters) – South Korea’s monetary regulator on Sunday stated it prepares to enforce charges on 2 unnamed worldwide financial investment banks it is examining.
The Financial Services Commission stated it discovered 2 international financial investment banks were engaged in the practice of naked short-selling deals, which includes selling shares without obtaining them.
The FSC did not recognize their names.
South Korea has actually been broadening a probe into worldwide financial investment banks to weed out prohibited short-sellers from the regional stock exchange after it enforced a complete restriction on short-selling in November through completion of June 2024.
In December, it stated it would fine 2 unnamed international financial investment banks and one regional brokerage 26.5 billion won ($20.2 million) in overall for naked short-selling.
($1 = 1,313.2200 won)