[ad_1]
SEOUL (Reuters) – South Korea’s monetary regulator on Sunday mentioned it plans to impose penalties on two unnamed international funding banks it’s investigating.
The Monetary Companies Fee mentioned it discovered two international funding banks have been engaged within the observe of bare short-selling transactions, which entails promoting shares with out borrowing them first.
The FSC didn’t establish their names.
South Korea has been widening a probe into international funding banks to weed out unlawful short-sellers from the native inventory market after it imposed a full ban on short-selling in November by way of the tip of June 2024.
In December, it mentioned it might positive two unnamed international funding banks and one native brokerage 26.5 billion received ($20.2 million) in whole for bare short-selling.
($1 = 1,313.2200 received)
[ad_2]
Source link
