HSBC Holdings PLC (NYSE: HSBC) and BNP Paribas (OTCQX: BNPQY) were hit with a fine of 26.5 billion won ($20.4 million) by South Korea for naked short-selling. In particular, South Korea ordered BNP Paribas to pay 11 billion won and its local brokerage unit to pay 8 billion won for naked short-selling, which is illegal in the country, as per Bloomberg. Apart from this, the South Korean authorities fined HSBC with 7.5 billion won for naked short-selling. “The violations were a grave matter that hu
South Korea Fines Global Banks Record $20 Million for Illegal Naked Short Selling bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
(Bloomberg) South Korea has decided to impose a total fine of 26.5 billion won ($20.4 million) on BNP Paribas SA, its domestic brokerage unit and HSBC Holdings Plc for naked short-selling, according to a person familiar with the matter. Most Read from BloombergManchester United Saga Ends With $1.3 Billion Ratcliffe DealChina Is Softening Stance on Gaming After $80 Billion RoutTrump Tells Appeals Panel He Should Have ‘Absolute Immunity’Quantum Computing Is Finally Here. But What Is It?Maersk P