South Korea says it will impose fines on two global banks for short-selling violations

© Reuters

SEOUL (Reuters) – South Korea’s financial regulator on Sunday talked about it plans to impose penalties on two unnamed global funding banks it’s investigating.

The Monetary Products and companies Commission talked about it chanced on two global funding banks were engaged within the prepare of bare immediate-selling transactions, which contains selling shares without borrowing them first.

The FSC did no longer title their names.

South Korea has been widening a probe into global funding banks to weed out illegal immediate-sellers from the native stock market after it imposed a beefy ban on immediate-selling in November by the discontinuance of June 2024.

In December, it talked about it would gorgeous two unnamed global funding banks and one native brokerage 26.5 billion acquired ($20.2 million) in total for bare immediate-selling.

($1 = 1,313.2200 acquired)