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clock Created with Sketch. 22/01/24
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Originally posted by Espinsight:
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Thanks DB for the post. South Korean market regulators banned short selling in November, bowing to political pressure to protect returns for retail investors. South Korea’s Financial Services Commission on Monday imposed record fines on two banks; Bloomberg subsequently reported that BNP Paribas and HSBC were together penalised 26.5 billion won ($30 million) for illegal naked short-selling. Mr McFadyen said he believed other advanced economies such as Singapore, Japan and Germany had tighter short-selling rules than Australia, and foreign hedge funds were flocking in as a result. “Short-selling should be banned or much better regulated in certain situations, such as for pre-revenue companies,” he said. “It’s also often foreign hedge funds targeting very good companies simply because the regulations are weaker in Australia versus other developed markets. “It’s nonsensical to continue to allow it and at the same time expect Australian companies to invest in new mines to decarbonise the global economy.”
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