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    Home » South Korean Financial Regulatory Agency Imposes Fine on Credit Suisse for Illegal Short Selling
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    South Korean Financial Regulatory Agency Imposes Fine on Credit Suisse for Illegal Short Selling

    By adminJul. 3, 2024No Comments1 Min Read
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    South Korean Financial Regulatory Agency Imposes Fine on Credit Suisse for Illegal Short Selling
    South Korean Financial Regulatory Agency Imposes Fine on Credit Suisse for Illegal Short Selling
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    Credit Suisse’s two former subsidiaries were fined by South Korea’s financial regulatory authority for violating short-selling rules.

    The Financial Services Commission (FSC) imposed fines of $121,700 and $73,000 on Credit Suisse AG (now UBS AG) and Credit Suisse Singapore Ltd, respectively.

    Additionally, it was established that between January 9, 2021, and [date], Credit Suisse engaged in illegal “naked” short-selling amounting to $434,000.

    South Korean capital market law prohibits naked short-selling, where investors sell stocks without borrowing or verifying the ability to borrow them.

    Read more:


    The upcoming FOMC meeting—what should we know?
    Credit Suisse Singapore Ltd also conducted similar transactions worth $2.54 million between [dates].

    To strengthen mechanisms against illegal trading activities in the future, South Korea has extended the ban on short-selling across the entire market until the first quarter of 2025.

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