South Korea Prosecutors Searched HSBC & BNP Paribas Offices for Illegal Naked Short-Selling, HSBC Fined $5.6 Million & BNP Paribas Fined $14.2 Million

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South Korea Prosecutors Searched HSBC & BNP Paribas Offices for Illegal Naked Short-Selling, HSBC Fined $5.6 Million & BNP Paribas Fined $14.2 Million

17th February 2024 | Hong Kong

South Korea prosecutors have been reported to have searched HSBC & BNP Paribas offices for illegal naked short-selling.  HSBC was fined $5.6 million (7.5 billion Korean Won) and BNP Paribas was fined $14.2 million (Total of 19 billion Korean Won).  In December 2023, the South Korea Securities & Futures Commission had fined 2 international investment banks $20 million (26.5 billion won) for naked short selling, with the names of investment banks to be released in 2 months.  HSBC & BNP Paribas had been reported to be receiving possible fines for naked short selling.  In November 2023, South Korea imposed an immediate 8-month full ban on short selling starting from 6th November till June 2024.  In October 2023, South Korea Financial Supervisory Service fined 2 Hong Kong-based investment banks $30 million for illegal naked short selling between 2020 to 2022.  

“ South Korea Prosecutors Searched HSBC & BNP Paribas Offices for Illegal Naked Short-Selling, HSBC Fined $5.6 Million & BNP Paribas Fined $14.2 Million “

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South Korea Securities Commission Fines 2 International Investment Banks $20 Million for Naked Short Selling with Names of Investment Banks to be Released in 2 Months, HSBC & BNP Paribas Reported to be Receiving Possible Fines for Naked Short Selling, South Korea Imposed Immediate 8-Month Full Ban on Short Selling from 6th November Till June 2024

27th December 2023 – The South Korea Securities & Futures Commission has fined 2 international investment banks $20 million (26.5 billion won) for naked short selling, with the names of investment banks to be released in 2 months.  HSBC & BNP Paribas had been reported to be receiving possible fines for naked short selling.  In November 2023, South Korea imposed an immediate 8-month full ban on short selling starting from 6th November till June 2024.  In October 2023, South Korea Financial Supervisory Service fined 2 Hong Kong-based investment banks $30 million for illegal naked short selling between 2020 to 2022.

South Korea Imposed Immediate 8-Month Full Ban on Short Selling from 6th November Till June 2024

11th November 2023 – South Korea has imposed an immediate 8-month full ban on short selling starting from 6th November till June 2024.  In October 2023, South Korea Financial Supervisory Service fined 2 Hong Kong-based investment banks $30 million for illegal naked short selling between 2020 to 2022.

South Korea Financial Supervisory Service Fines 2 Hong Kong-Based Investment Banks $30 Million for Illegal Naked Short Selling Between 2020 to 2022

21st October 2023 – South Korea Financial Supervisory Service has fined 2 Hong Kong-based investment banks $30 million for illegal naked short selling between 2020 to 2022.

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