South Korea fines JPMorgan, Nomura, UBS and Morgan Stanley for short selling breaches

South Korea fines JPMorgan, Nomura, UBS and Morgan Stanley for short selling breaches


Morgan Stanley’s office in Canary Wharf financial district on Jan. 30, 2025 in London, UK.

Mike Kemp | In Pictures | Getty Images

South Korea’s market watchdog has imposed fines on JPMorgan, Morgan Stanley, Nomura and UBS for violating short-selling rules in the domestic stock market, officials at the country’s Financial Supervisory Service (FSS) said on Thursday.

“We have concluded administrative sanctions, meaning imposing fines,” an official said, declining to provide further details because the decision had not been officially disclosed.

The decision was made on Wednesday by the Securities and Futures Commission, according to another official at the FSS.

Nomura said it was not aware of any decision by the regulator and could not comment. JPMorgan declined to comment, while UBS and Morgan Stanley did not immediately respond to a request for comment.

In South Korea, naked short-selling of stocks, or selling stocks without borrowing them first or determining they can be borrowed, is banned by the Capital Markets Act.

South Korea plans to lift in March a market-wide ban introduced in November 2023 on stock short-selling, when it is expected to have a system ready to detect illegal trades.



Source

US DOJ settles antitrust case for HPE’s  billion takeover of Juniper
World

US DOJ settles antitrust case for HPE’s $14 billion takeover of Juniper

Hewlett Packard Enterprise headquarters in Spring, Texas, US, on Monday, May 29, 2023. Mark Felix | Bloomberg | Getty Images The U.S. Department of Justice has settled its lawsuit challenging server maker Hewlett Packard Enterprise‘s all-cash acquisition of Juniper Networks for $14 billion, according to court filings. The settlement requires the combined company to divest […]

Read More
Trump administration exploring  billion civilian nuclear deal for Iran
World

Trump administration exploring $30 billion civilian nuclear deal for Iran

U.S. President Donald Trump speaks to the media, after the U.S. Supreme Court dealt a blow to the power of federal judges by restricting their ability to grant broad legal relief in cases as the justices acted in a legal fight over President Donald Trump’s bid to limit birthright citizenship, in the Press Briefing Room […]

Read More
Gen Alpha are spending big — here’s 2 tips to raise money savvy kids in a world of instant gratification
World

Gen Alpha are spending big — here’s 2 tips to raise money savvy kids in a world of instant gratification

Smiling teen girl holds credit card and searching what to buy online Stockplanets | E+ | Getty Images In the age of instant gratification where Gen Alpha has easy access to instant delivery services like Amazon Prime and Uber Eats, some parents are wondering how to teach the young money-saving skills. Born between 2010 and […]

Read More