Naked Short-Selling Crackdown: HSBC and BNP Paribas Hit With Fines In South Korea

HSBC Holdings PLC (NYSE: HSBC) and BNP Paribas (OTCQX: BNPQY) were hit with a fine of 26.5 billion won ($20.4 million) by South Korea for naked short-selling. In particular, South Korea ordered BNP Paribas to pay 11 billion won and its local brokerage unit to pay 8 billion won for naked short-selling, which is illegal in the country, as per Bloomberg. Apart from this, the South Korean authorities fined HSBC with 7.5 billion won for naked short-selling. “The violations were a grave matter that hu