BNP Paribas, HSBC face record fines for naked short selling
Dec 25, 2023
South Korea's financial regulator on Monday said it had imposed its largest ever fine on two Hong Kong-based investment banks for illegally practicing short selling on the domestic stock market. The Financial Services Commission said its Securities and Futures Commission decided during a meeting on Friday to fine the Hong Kong unit of French investment bank BNP Paribas and its securities affiliate operating in Korea as well as HSBC's Hong Kong arm 26.52 billion won ($20.35 million) for