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South Korean financial watchdog launches new short selling control measures

( August 20, 2024, 04:02 GMT | Official Statement) -- MLex Summary: South Korea's financial watchdog has announced new administrative guidance aimed at preventing naked short selling. According to the Financial Supervisory Service, the guidelines, effective tomorrow, require all institutional investors to implement robust internal controls and real-time balance management systems. Key features include designating control departments, real-time calculation of sellable balances, blocking sales exceeding available balances and preventing manual balance manipulation. The regulator said it plans to actively monitor the progress of internal control and system establishment, encouraging early adoption.The statement, in Korean, is attached....

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