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| 금융감독원 (사진=연합뉴스) |
[Alpha Biz=(Chicago) Reporter Paul Lee] Financial authorities have first detected a malicious naked short stock selling case, which has been raised all the time.
Previously, reasons for the lack of intentions, such as errors, have been revealed, but it is the first time that a force that has moved to seek profits from the sale has been caught.
According to the Financial Supervisory Service on the 1st, the short selling investigation team, which started as a short selling investigation team in June last year, has investigated a total of 76 cases since its launch and completed action on 33 cases. The remaining 43 cases will also be subject to sanctions under the principle of zero tolerance.
Among them, a planned investigation of some stocks with high allegations found that they were suspected of making swap deals or short selling before the disclosure of negative information to lower stock prices.
Swap trading is a trading method used by foreign hedge funds and others, and refers to a technique in which a securities firm that barely receives a selling swap order submits a short selling order to the market for position hedge.
In particular, the company was found to have maximized profits from the sale by intentionally submitting sales orders without borrowing. In other words, for the first time, a purposeless short stock selling case, which was rumored to have been rampant in the market, has been officially confirmed.
It was also pointed out that naked short selling by foreigners is prevalent. Of the 104 violations detected between 2020 and April this year, foreigners accounted for 86.5% (90 cases).
In addition, a total of 6.05 billion won was imposed on two foreign financial investment firms for the first time in March after measures against violations of short selling were changed from "penalty" to "penalty". A fine of 2.15 billion won was decided on 31 cases caught before the fine was introduced.
The Financial Supervisory Service will continue to be more active in combating illegal short selling. It plans to expand its investigation into unfair trade using short selling and focus on malicious naked short selling. It plans to respond quickly to abnormal transactions and continue planning investigations into large-scale public sales before the release of bad news information.
AlphaBIZ 폴리(hoondork1977@alphabiz.co.kr)
