Financial Supervisory Service Commissioner Jeong Eun-bo announced on the 31st that “We will establish and operate a short-selling investigation team within the next month to strengthen the investigation into short-selling violations and take strict measures once morest illegal short-selling.”
At the executive meeting of illegal short selling held on the same day, President Jeong said, “There are complaints from investors that short selling is a ‘slanted playground’ that is advantageous to foreigners and institutions, and investigations into illegal short selling are not being conducted properly.”
According to the Financial Supervisory Service, the short selling investigation team plans to first conduct a status check on the short selling process, such as the short selling order method and stock loan. Intentional non-borrowing short selling, unfair trade using short selling, etc., are investigated for areas with a high probability of violation of short selling.
President Jung said, “We will cooperate with related institutions such as the Financial Services Commission and the Korea Exchange for effective investigations. In particular, in the case of foreign investor investigations, cooperation with foreign supervisory agencies is encouraged under a multilateral memorandum of understanding on advice, cooperation, and information exchange.” We will make full use of it,” he said.
©Dailyan Co., Ltd. Unauthorized reproduction and redistribution prohibited
