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FSS disciplines stock brokers for illegal short-sellingBy Son Ji-hyoung
Published : May 16, 2017 - 17:00
The FSS said a team of stock traders from SK Securities had failed to avoid conflicts of interest and used unpublished information obtained on duty, both considered breaches of law. It issued cautionary discipline and ordered the securities firm to take autonomous action on the traders.
The traders earned profits worth 49 million won ($43,800) by short selling some 96,000 shares valued at 1.3 billion won, from January 2014 to July 2015.
The FSS viewed short selling with the knowledge of block trade as a “market disruption.”
By Son Ji-hyoung (firstname.lastname@example.org)
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