Goldman Sachs: $ 7.5 Billion of "Illegal Short Selling"



[ad_1]

Goldman Sachs, world leader in financial services, has been the heaviest financial penalty ever imposed by financial institutions.

Kim Jung-woo reports.

<기자>

In May, Goldman Sachs ordered 156 restricted shares, including 40 billion won in short orders, for two days.

First, you must borrow the shares, sell them and buy them again, but the settlement date did not pay 245 million shares out of 41 shares.

I have not borrowed shares.

The commission fined Goldman Sachs KRW 7,548.8 million.

Up to now, the maximum amount of non-refundable short selling has been 60 million won. That's why he was criticized as a cotton bat.

In periods of stock depreciation, orders for large stocks were sold with stocks in good condition and the tyranny of large companies that surrounded individual investors led to the abolition of the short selling system.

Most of the financial corporations targeted by these illegal short sales in the last five years were foreigners.

Financial authorities rely only on the post-reporting of foreign companies, but can not confirm actual transactions.

[이창민/한양대 경제학부 교수 : 주식시장의 거래 행위 중 하나이기 때문에 사실은 저희가 ‘눈에 보이지 않는 거래’라고 해요. 거래 꼬리표가 붙지 않기 때문에 확인할 수 없거든요.]

The Financial Supervisory Authority stated that it "would set the principle of short selling to zero sale on the principle of zero tolerance", stating that it will have a system in place. allowing it to confirm whether it will borrow and sell real shares until the first half of next year.

(Editing image: Hwang Ji-young, VJ: Han Seung-min)

[ad_2]
Source link