The Financial Services Commission said it found two global investment banks were engaged in the practice of naked short-selling transactions, which involves selling shares without borrowing them first.
The FSC did not identify their names.
South Korea has been widening a probe into global investment banks to weed out illegal short-sellers from the local stock market after it imposed a full ban on short-selling in November through the end of June 2024.
In December, it said it would fine two unnamed global investment banks and one local brokerage 26.5 billion won ($20.2 million) in total for naked short-selling.
($1 = 1,313.2200 won)
Source: Economy - investing.com
