Seongsu Eun, Chairman of the Financial Services Commission. Photo = Yonhap News
Regarding the resumption of short selling in March, Chairman Eun Seong-soo said, “Please wait until the final decision is made.” Analysis comes out as to whether it was retreating from the original position of “we will resume in March when the temporary ban is over”.
Chairman Eun said, “No one at the Financial Services Commission, including me, can speak coolly,” when a question about short selling came up during the ‘2021 Financial Commission Business Plan’ briefing held at the Seoul Government Complex on the 18th.
I heard that the decision-making process of the committee’s organization, the Financial Services Commission, is similar to that of the Bank of Korea Financial Monetary Committee’s decision-making process. Chairman Eun explained, “The measures related to short selling are a matter to be decided at the meeting of the Financial Services Commission consisting of nine members.”
Regarding the insistence on extending the ban on short selling in the politics, he added, “There is no discussion with the political party such as the ruling party,” but added that “when the regular National Assembly is held in February, there will be a process of listening to the opinions of lawmakers.”
Inside and outside of the financial authorities, the interpretation of Chairman Eun’s remarks was, “Isn’t it a step back from the existing position of’will strive to improve the system with the aim of resuming short selling in March’.” Earlier, the Financial Services Commission repeatedly emphasized that’the ban on short selling will end on March 15′ through texts sent to reporters on the 11th and 12th.
An official from the financial investment industry said, “It is not an exaggeration to say that the Moon Jae-in administration’s only achievement in the economy is to break through the KOSPI index.” I will.”
In the New Year’s Business Plan of the Financial Services Commission released on that day, there was no information related to’Resumption of Short Sale in March’. Instead, the Financial Services Commission included measures to improve the existing system, such as imposing penalties for illegal short selling and strengthening criminal penalties, expanding access to individual short selling, and reducing short selling by market makers.
Regarding this, Chairman Eun said, “I heard from some foreign investors who attended the Financial Development Council meeting on the 18th that it was excessive punishment for sending them to jail for selling illegal short sales. I introduced it.
Reporter Oh Hyeong-joo [email protected]
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