BEAMSTART Logo

Korea fines Credit Suisse largest-ever short sale penalty

Korea Economic Daily LogoKorea Economic Daily2d ago

Korea fines Credit Suisse largest-ever short sale penalty - Korea Economic Daily

Quick Summary:

South Korean financial regulator said on Wednesday it has officially imposed Credit Suisse Group AG and its affiliate a combined 27.2 billion won ($19.6 million) fine, the largest penalty on naked short sales of Korean listed stocks since the authorities introduced the penalty system in April 2021.

In May, the financial watchdog announced it has uncovered 211.2 billion won worth of naked short sales of Korean stocks by Credit Suisse, Nomura Securities Co., BNP Paribas SA, HSBC Holdings plc and five other global banks from 2021 to 2023.

Credit Suisse Group, which ordered sale of 60.3 billion won worth of shares in 20 Korean companies between April 2021 and June 2022, has been fined 16.9 billion won, according to FSC’s statement.

More Pictures

Korea fines Credit Suisse largest-ever short sale penalty - Korea Economic Daily (Picture 1)

or

Article Details

Category: Economy

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-03 @ 20:37:07 (2 days ago)

News Timezone: GMT +8:00

News Source URL: kedglobal.com

Language: English

Article Length: 332 words

Reading Time: 2 minutes read

Sentences: 17 lines

Sentence Length: 20 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Korea Economic Daily

News ID: 21471082

View Article Analysis

About Korea Economic Daily

Korea Economic Daily Logo

Main Topics: Economy

Official Website: kedglobal.com

Update Frequency: 13 posts per day

Year Established: 1964

Headquarters: South Korea

News Last Updated: 15 hours ago

Coverage Areas: South Korea

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #91

Publisher Details

Frequently Asked Questions

How long will it take to read this news story?

The story "Korea fines Credit Suisse largest-ever short sale penalty" has 332 words across 17 sentences, which will take approximately 2 - 3 minutes for the average person to read.

Which news outlet covered this story?

The story "Korea fines Credit Suisse largest-ever short sale penalty" was covered 2 days ago by Korea Economic Daily, a news publisher based in South Korea.

How trustworthy is 'Korea Economic Daily' news outlet?

Korea Economic Daily is a fully independent (privately-owned) news outlet established in 1964 that covers mostly economy news.

The outlet is headquartered in South Korea and publishes an average of 13 news stories per day.

It's most recent story was published 15 hours ago.

What do people currently think of this news story?

The sentiment for this story is currently Neutral, indicating that people are not responding positively or negatively to this news.

How do I report this news for inaccuracy?

You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.
  • News ID: #21471082
  • URL: https://beamstart.com/news/korea-fines-credit-suisse-largest-17200072444266

More News from Korea Economic Daily

Latest Jobs

More Economy News

BEAMSTART

BEAMSTART is a global entrepreneurship community, serving as a catalyst for innovation and collaboration. With a mission to empower entrepreneurs, we offer exclusive deals with savings totaling over $1,000,000, curated news, events, and a vast investor database. Through our portal, we aim to foster a supportive ecosystem where like-minded individuals can connect and create opportunities for growth and success.

Our Company

© Copyright 2024 BEAMSTART. All Rights Reserved.