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[Alpha Biz=(Chicago) Reporter Kim Jisun] Lee Bok-hyeon, head of the Financial Supervisory Service, said on the 4th, "We have additionally confirmed the circumstances of illegal short selling worth tens of billions of won by foreign investment banks (IBs)," and added, "We will disclose the results of the (illegal short selling investigation) as soon as possible."
Earlier, the Financial Supervisory Service detected illegal short selling of global IBs, BNP Paribas and HSBC. In response, the Financial Services Commission imposed the largest fine ever, 26.52 billion won.
While the situation of illegal short selling continues to be detected, it is also seeking to hold briefing sessions for IBs in major financial markets such as Hong Kong.
Regarding the Hong Kong H Index-linked Stock Linked Securities (ELS), whose losses will be confirmed in earnest starting this month, Director Lee said he will soon begin inspecting major vendors. Last month, the Financial Supervisory Service inspected 12 vendors, including KB Kookmin Bank.
Hong Kong's H-index ELS product, which was sold in 2021, will expire this year. The amount due this month is estimated to be about 800 billion won. If the Hong Kong H index, which has fallen to 5,000 units, does not recover, it is inevitable to lose the following products.
AlphaBIZ 김지선(stockmk2020@alphabiz.co.kr)
