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[Apha Biz=(Chicago) Reporter Paul Lee] Sixteen companies, including Shinhan Investment & Securities Co. and Deutsche Bank (Deutsche Bank AG), Germany's largest bank, have been sanctioned by financial authorities for delaying reporting their net holdings.
Short sale investors report their net holdings within two trading days, which is immediately reflected in the statistics seen by market participants, as short as a day or two or as long as 150 days, and as a result, the Korea Exchange's public sale balance is also incorrect.
In the case of Shinhan Investment & Securities, 99 new stocks were delayed in four years, the largest number of stocks. The HLB shareholder alliance has argued several times over the years that Shinhan Securities is making illegal short selling.
According to the financial authorities on the 4th, the Securities and Futures Commission of the Financial Services Commission caught five companies and two individuals who reported the net holding balance of the public sale at the 11th regular meeting on May 31, and imposed a fine of 236.25 million won.
Shinhan Investment & Securities delayed reporting net holdings of 99 stocks on five occasions from July 2018 to June last year. Value System Asset Management delayed net holdings of 30 stocks on four occasions from July 2018 to June 2019.
The two companies were late in reporting on the 1st to 2nd and the 1st to 3rd, respectively, with fines of 57 million won and 36 million won, respectively.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
