Article: Penalties for Naked Shorting Selling Too Light

Article - Media

Penalties for Naked Shorting Selling Too Light

Yoon Youngsai

BusinessKorea, 15 June 2018

The Seoul branch of Goldman Sachs placed short selling orders for 350 KOSPI and KOSDAQ stocks on May 30. Of the 350 stocks, the Seoul branch failed to buy back 20 stocks totaling about 1.38 million shares in time until the deadline for settlement on June 1, indicating the 20 stocks were not in its possession at the time. Each of the 350 stocks can be considered a separate transaction.

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