Korea Said to Fine Barclays, Citi for Naked Short Selling

Bloomberg12-19 09:23

(Bloomberg) -- South Korea has fined Barclays Plc and $Citigroup Inc(C-N)$. for naked short selling, according to people familiar with the matter, as the nation ramps up its fight against such illegal...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2492195786?lang=en_US&edition=fundamental","thumbnail":"https://s.yimg.com/uu/api/res/1.2/oVTKdT_N.dWiUkl.pP6clA--~B/aD0xMzM0O3c9MjAwMDthcHBpZD15dGFjaHlvbg--/https://media.zenfs.com/en/bloomberg_markets_842/e1d9d3ac93995027eefa006da8fe9e53","is_english":true,"pubTime":"2024-12-19 09:23","share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","id":"2492195786","market":"us","top_or_hot":-1,"title":"Korea Said to Fine Barclays, Citi for Naked Short Selling","media":"Bloomberg","content":"<div>\n<p>(Bloomberg) -- South Korea has fined Barclays Plc and $Citigroup Inc(C-N)$. for naked short selling, according to people familiar with the matter, as the nation ramps up its fight against such illegal...</p>\n\n<a href=\"https://finance.yahoo.com/news/korea-said-fine-barclays-citi-012336099.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Korea Said to Fine Barclays, Citi for Naked Short Selling</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nKorea Said to Fine Barclays, Citi for Naked Short Selling\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-12-19 09:23 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/korea-said-fine-barclays-citi-012336099.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- South Korea has fined Barclays Plc and $Citigroup Inc(C-N)$. for naked short selling, according to people familiar with the matter, as the nation ramps up its fight against such illegal...</p>\n\n<a href=\"https://finance.yahoo.com/news/korea-said-fine-barclays-citi-012336099.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0128525689.USD","symbol_name":"TEMPLETON GLOBAL BALANCED \"A\"(USD) ACC","start_time":0,"source_url":"https://finance.yahoo.com/news/korea-said-fine-barclays-citi-012336099.html","article_id":"2492195786","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/oVTKdT_N.dWiUkl.pP6clA--~B/aD0xMzM0O3c9MjAwMDthcHBpZD15dGFjaHlvbg--/https://media.zenfs.com/en/bloomberg_markets_842/e1d9d3ac93995027eefa006da8fe9e53"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2492195786","pubTimestamp":1734571416,"columns":[],"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":" -- South Korea has fined Barclays Plc and Citigroup Inc. for naked short selling, according to people familiar with the matter, as the nation ramps up its fight against such illegal trading practices.Barclays and Citi were fined 13.7 billion won  and 4.7 billion won, respectively, by the Securities and Futures Commission, said three people, who asked not to be identified discussing internal matters.The final penalties by the SFC were roughly 80% lower than the fines proposed earlier by the Financial Supervisory Service as the commission deemed the banks’ violation of rules as unintentional, two of the people said.The Chosun Ilbo newspaper earlier reported on the penalties.Barclays said in an emailed statement it’s considering a response and remains “committed to maintaining the highest standards of professional conduct and the orderly and transparent operation of markets,” without confirming or denying the fines.Read: South Korea’s Probe Alleges $156 Million of Illegal Short Trades. T","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU0128525689.USD":"TEMPLETON GLOBAL BALANCED \"A\"(USD) ACC","IE00BSNM7G36.USD":"NEUBERGER BERMAN SYSTEMATIC GLOBAL SUSTAINABLE VALUE \"A\" (USD) ACC","LU0072461881.USD":"BGF US BASIC VALUE \"A2\" ACC","LU2125154935.USD":"ALLSPRING (LUX) WF GLOBAL EQUITY ENHANCED INCOME \"I\" (USD) INC","LU0320765646.SGD":"FTIF - Franklin Income A MDIS SGD-H1","LU0310800965.SGD":"FTIF - Templeton Global Balanced A Acc SGD","LU0106831901.USD":"贝莱德世界金融基金A2","BK4588":"碎股","C":"花旗","LU2236285917.USD":"ALLIANZ GLOBAL INCOME \"AMG\" (USD) INC","LU0130102774.USD":"Natixis Harris Associates US Equity RA USD","BK4207":"综合性银行","LU0648001328.SGD":"Natixis Harris Associates US Equity RA SGD","LU1791807156.HKD":"BGF WORLD FINANCIALS \"A2\" (HKDHDG) ACC","BK4504":"桥水持仓","LU2456880835.USD":"ALLIANZ GLOBAL INCOME \"AT\" (USD) ACC","LU0477156953.USD":"HARRIS ASSOCIATES US VALUE EQUITY \"RE\" (USD) ACC","LU0162691827.USD":"BGF US BASIC VALUE \"A4\" INC","LU1668664300.SGD":"Blackrock World Financials A2 SGD-H","BCS":"巴克莱银行","LU1201861249.SGD":"Natixis Harris Associates US Equity PA SGD-H","LU2462157665.USD":"ALLIANZ GLOBAL INCOME \"A\" (USD) INC","LU0980610538.SGD":"Natixis Harris Associates US Equity RA SGD-H","LU2417539215.USD":"ALLIANZ GLOBAL INCOME \"AMF\" (USD) INC","LU0052756011.USD":"TEMPLETON GLOBAL BALANCED \"A\" (USD) INC","LU1366192091.USD":"ALLIANZ US EQUITY PLUS \"AM\" (USD) INC","LU2360032135.SGD":"ALLSPRING GLOBAL EQUITY ENHANCED INCOME \"A\" (SGDHDG) INC","LU0098860793.USD":"FRANKLIN INCOME \"A\" INC","BK4585":"ETF&股票定投概念","BK4534":"瑞士信贷持仓","LU2125154778.USD":"ALLSPRING GLOBAL EQUITY ENHANCED INCOME \"A\" (USD) INC","LU0130517989.USD":"HARRIS ASSOCIATES US VALUE EQUITY \"R\" INC","LU1162221912.USD":"FRANKLIN INCOME \"A\" (USD) ACC","LU1267930227.SGD":"TEMPLETON GLOBAL BALANCED \"AS\" (SGD) ACC A","BK4566":"资本集团"},"translate_title":"韩国称将因裸卖空对巴克莱和花旗处以罚款","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BCS":0.9,"C":0.9},"content_text":"(Bloomberg) -- South Korea has fined Barclays Plc and $Citigroup Inc(C-N)$. for naked short selling, according to people familiar with the matter, as the nation ramps up its fight against such illegal trading practices. \nBarclays and Citi were fined 13.7 billion won ($9.5 million) and 4.7 billion won, respectively, by the Securities and Futures Commission, said three people, who asked not to be identified discussing internal matters. \nThe final penalties by the SFC were roughly 80% lower than the fines proposed earlier by the Financial Supervisory Service as the commission deemed the banks’ violation of rules as unintentional, two of the people said.\nThe Chosun Ilbo newspaper earlier reported on the penalties. \nBarclays said in an emailed statement it’s considering a response and remains “committed to maintaining the highest standards of professional conduct and the orderly and transparent operation of markets,” without confirming or denying the fines. \nCiti declined to comment. The SFC and Financial Services Commission declined to comment.  \nRead: South Korea’s Probe Alleges $156 Million of Illegal Short Trades\nNaked short selling refers to an investor selling shares without first borrowing them or determining they can be borrowed, and is considered illegal in South Korea.\nThe country has been increasingly cracking down on illegal short-selling since banning the practice last year. Global investment banks, including BNP Paribas SA and HSBC Holdings Plc, have faced such probes and fines.\n(Updates throughout with new attributions and details.)\n©2024 Bloomberg L.P.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"policyRegulatory","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2492195786"}