Two investment banks to face penalties for short selling $42M worth of stock naked

Financial Supervisory Service chief Lee Bok-hyun speaks in a press conference held in central Seoul on Tuesday. [YONHAP] Korea’s financial watchdog reported new cases of naked short selling by two additional global investment banks worth 54 billion won ($42 million).     One investment bank shorted two stocks for three months from March 2022, while the other shorted three stocks from January 2022 through April last year, the Financial Supervisory Service (FSS)..