[자료=금감원]
The Securities and Futures Committee (Jungseon Committee) under the Financial Services Commission announced that it has imposed a total fine of 685 million won on 10 overseas financial companies that violated the ban on short selling without borrowing.
The Jeungsun Committee announced at a regular meeting on the 24th that it has voted for such sanctions against the results of the investigation of the alleged violation of the non-borrowing short sale limit. They were found to sell securities they did not own (borrowed short sale) in the process of trading domestic listed stocks from January 2018 to July 2019.
They did not reflect the sold stocks in their balances, so they misunderstood that they held them and submitted a second sell order (second sell). In addition, shareholders who participated in the capital increase can only sell new stocks after they have been listed after paying the capital increase. However, they sometimes submitted a sell order due to the incorrect listing and stocking date of the new stocks.
An official from the Financial Services Commission said, “The order was submitted because it lacked the basic duty of care as a financial investment company, such as not checking the quantity available for order in advance.” .
They also submitted a sell order for the stocks they didn’t own because they were mistaken for owning them, even though they could only acquire gains on the stock price through a difference settlement transaction (CFD).
In addition, even though they knew that they did not own stocks, there were cases in which they intentionally submitted a non-borrowing short sale order and bought and settled the sold stock through overtime mass trading.
An official from the Financial Services Commission said, “In the future, we will shorten the detection of violations of the non-borrowing short sale ban from the previous 6 months to 1 month.” “You have to submit” he said.
He also said, “Because the level of sanctions is strengthened, such as the introduction of penalties and penalties for illegal short selling, please be careful not to cause illegal acts.”
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