Business Communication Skills for ROs & Executive Officers
phone: 2895 1088 | email: vip@FinanceMandarin.com
learn business mandarin
Case Study is the most effective learning method to acquire language skills and put them in practice.
Not yet a member ? Next step:
contact us to arrange a demo class.
BNP HSBC fined for Korean naked short selling
South Korean prosecutors are searching three offices in Seoul in connection with HSBC (0005) and BNP Paribas after the country's finance regulator decided to fine the two banks for short selling last year.
The District Prosecutors' Office launched a mandatory criminal investigation against the firms.
The latest developments came after South Korea's Financial Services Commission decided to impose record-high fines on HSBC and BNP.
BNP Paribas was ordered to pay 11 billion won (HK$64.6 million) for naked short-selling, which is illegal in South Korea, while its local brokerage unit was penalized eight billion won. HSBC was fined 7.5 billion won for naked short-selling.
South Korean authorities had in November announced a full ban on short selling until the end of June 2024. The regulator said at the time that it had discovered "massive" illegal naked short-selling by global investment banks.
Earlier last year a penalty of 3.9 billion won was imposed on Erste Asset Management, which was among the initial companies to face bigger fines under new and more stringent rules on short selling.
Public perception of short sellers in Korea remains deeply negative, with local retail traders having staged protests against these activities from time to time. They have also made sporadic coordinated attempts to drive gains in stocks targeted by short-sellers, leading to increased volatility.
The key point and your take-away from this case study 'BNP HSBC fined for Korean naked short selling'. Your learning combines both language skills and market knowledge.
。
。
Active learning will accelerate your skills, and your study of 'BNP HSBC fined for Korean naked short selling'. Each exercise is designed to promote and strenthen your language skills. Login Required.
