South Korea has imposed a fine of $20.4M, or 26.5B won, on BNP Paribas (BNPQY) and HSBC Holdings (HSBC) for naked short-selling, Youkyung Lee of Bloomberg reports, citing a person familiar with the matter. BNP Paribas was ordered to pay 11B won while its local brokerage unit was penalized 8B won, according to Bloomberg’s source. Meanwhile, HSBC was fined 7.5B won. South Korea’s Financial Services Commission will also ask prosecutors to investigate the two international banks.
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