Morgan Stanley’s workplace in Canary Wharf monetary district on Jan. 30, 2025 in London, UK.
Mike Kemp | In Photos | Getty Photographs
South Korea’s market watchdog has imposed fines on JPMorgan, Morgan Stanley, Nomura and UBS for violating short-selling guidelines within the home inventory market, officers on the nation’s Monetary Supervisory Service (FSS) stated on Thursday.
“We now have concluded administrative sanctions, that means imposing fines,” an official stated, declining to offer additional particulars as a result of the choice had not been formally disclosed.
The choice was made on Wednesday by the Securities and Futures Fee, in accordance with one other official on the FSS.
Nomura stated it was not conscious of any choice by the regulator and couldn’t remark. JPMorgan declined to remark, whereas UBS and Morgan Stanley didn’t instantly reply to a request for remark.
In South Korea, bare short-selling of shares, or promoting shares with out borrowing them first or figuring out they are often borrowed, is banned by the Capital Markets Act.
South Korea plans to carry in March a market-wide ban launched in November 2023 on inventory short-selling, when it’s anticipated to have a system able to detect unlawful trades.