Prosecutors in South Korea are reportedly searching the offices of HSBC and BNP Paribas following fines over illegal short-selling.
South Korean prosecutors raided the offices of HSBC Securities, HSBC Korea and BNP Paribas Securities, according to a report by local media outlet «Maeil Business Newspaper» (in Korean language) citing legal sources.
The probe follows fines issued over illegal short-selling in the country. BNP Paribas was ordered to pay 11 billion won ($8.3 million) for naked short-selling, alongside an 8 billion won penalty for its local brokerage unit, while HSBC was fined 7.5 billion won.
