Monthly Archives: February 2021

South Korea – FSC Fines for Naked Short Selling Violations

On 24 February 2021, SK FSC fined 10 overseas financial firms for violations. SK FSC decided to impose a total penalty of KRW685mn on 10 overseas financial companies, following results of an investigation into violation of short sale restrictions. Follows December 2020 SK FSC updated on bill relating to illegal short-selling. Violations There was a…
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Hong Kong – SFC Fines for Inaccurate Short Selling Disclosure

On 22 February 2021, HK SFC fined Brilliance Asset Management Ltd $3.15mn. HK SFC fined Brilliance Asset Management Limited $3.15mn for failures to ensure short position reports (SPRs) for 4 collective investment schemes (CIS) were accurate. Also failed to ensure the schemes under its management complied with requirements under securities and futures (short position reporting)…
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ESMA Net Short Position Threshold

On 22 February 2021, EU ESMA issued the renewal decision of 16 December 2020, in EU OJ. The short selling threshold is in force from 19 December 2020 and applies for three months to 19 March 2021.  
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South Korea – FSC Capital Market Disclosures

On 22 February 2021, SK FSC proposed amendment on disclosure regulations. SK FSC announced partial amendment to capital market research business regulations. As stock market volatility has increased, so has the need to strengthen investor protection, as well as improve the effectiveness of penalties for disclosure violations. Amendments Rate of imposition of penalties on collective…
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