BNP Paribas has been reportedly indicted by South Korean authorities over illegal short-selling.
BNP Paribas has been indicted by South Korean prosecutors for allegedly violating short-selling rules, according to a «Bloomberg» report citing unnamed sources.
The Seoul Southern District Prosecutors’ Office indicted a global investment bank and a global hedge fund earlier this month for conducting illegal short selling, according to a spokesperson at the office, but did not disclose their names.
Previously, BNP Paribas was ordered to pay an 11 billion won ($7.9 million) penalty for naked short-selling, alongside an 8 billion won penalty for its local brokerage unit.
