Regulatory Alerts2024-07-03 | 82597SFC Imposes Penalty Surcharges on Global Investment Banks for Violating Short Sale Regulations
The Securities and Futures Commission imposed a total of KRW27.173 billion in penalty surcharges on two former Credit Suisse affiliated investment banks for violating short sale regulations under the Financial Investment Services and Capital Markets Act. Credit Suisse AG and Credit Suisse Singapore Ltd. were penalized for engaging in naked short sales totaling approximately KRW95.61 billion without possessing the underlying stocks during the specified periods. Additionally, the regulator levied KRW284.2 million in administrative fines on four domestic firms, two foreign firms, and an individual investor for failing to report net short position balances.
Share