Top Court Upholds HSBC's Acquittal in Short-Selling Case
4 Articles
4 Articles
Top court upholds HSBC's acquittal in short-selling case
The Supreme Court on Thursday upheld a lower court's acquittal of HSBC's Hong Kong unit on charges related to violating Korea's short-selling rules. Prosecutors earlier indicted the bank in March 2024 for violating the Capital Markets Act, which bans naked short selling, marking the first criminal case of its kind in the country. Naked short selling refers to short selling stocks without first securing them or ensuring they can be secured. Prose…
(Seoul = Yonhap News) Reporter Lee Mi-ryeong = The Hong Kong subsidiary of global investment bank HSBC, indicted on charges of naked short selling worth 15.8 billion won...
[Cable News] HSBC Hong Kong headquarters acquitted in South Korea's Supreme Court in its short-selling case. South Korean media reported that the Supreme Court ruled HSBC Hong Kong not guilty in the short-selling case.
The Hong Kong branch of global investment bank HSBC, which was indicted on charges of naked short selling worth 15.8 billion won, was acquitted by the Supreme Court.
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