The Monetary Supervisory Service’s headquarters in Seoul / Courtesy of Monetary Supervisory Service
Korea’s monetary watchdog mentioned Wednesday it has imposed over 80 billion gained ($55 million) in fines on world buyers over unlawful quick promoting, with the nation set to raise its non permanent ban on the inventory buying and selling observe on the finish of this month.
In response to the Monetary Supervisory Service (FSS), the Futures and Securities Committee below the Monetary Service Fee (FSC) had accomplished its 16-month probe into suspected unlawful quick promoting by 14 world funding banks (IBs), and levied a mixed 83.6 billion gained in fines on 13 IBs.
The nation imposed a short lived ban on the observe in November 2023 after a sequence of bare quick promoting violations involving a number of world funding banks have been found.
The monetary regulator mentioned earlier it’s planning to permit quick promoting on all publicly traded corporations right here.
Earlier than the quick promoting ban, solely 350 listed corporations, particularly the constituents of the KOSPI 200 index and the KOSDAQ 150 index, had been topic to quick promoting.
The quick promoting ban is about to be lifted March 31. (Yonhap)
