Two global investment banks based in Hong Kong face the biggest-ever fines and possibly criminal charges in South Korea for their alleged illegal short selling activities, which sparked calls from retail investors for tougher rules and heavier penalties against such practices. The Financial Supervisory Service said it was seeking to impose its largest-ever fine on the two IBs for what is called “naked short sel.
Small individual investors, angered by the recent illegal short selling practices of BNP Paribas and HSBC, have called for more stringent measures to prevent a recurrence, even in the face of potentially record-high fines.
South Korea to Impose Fines on 2 Hong Kong Banks for Naked Short-Selling theepochtimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theepochtimes.com Daily Mail and Mail on Sunday newspapers.
The Financial Supervisory Service (FSS) has found that two Hong Kong-based investment banks (IBs) engaged in illegal short-selling practices estimated to be worth 56 billion won ($41.32 million).
Hotel Shilla s luxury resort in Da Nang has won recognition at this year s World Travel Awards by winning the Asia s Leading Lifestyle Resort category, the country s major hotel chain said Thursday.