Korea Said to Indict BNP Paribas for Illegal Short-Selling
- Move comes after Regal Funds’ indictment in broader crackdown
- Regulator has plan to lift short-selling ban at end of March
A sign on the exterior of a BNP Paribas SA bank branch in Paris.
Photographer: Nathan Laine/BloombergThis article is for subscribers only.
South Korean prosecutors have indicted BNP Paribas SA for allegedly violating short-selling rules, according to people with direct knowledge of the matter, the latest development in the country’s crackdown on such trades.
The French bank was charged last week with violating local capital markets law, according to the people, who requested anonymity discussing a private matter. The Seoul Southern District Prosecutors’ Office earlier this month indicted a global investment bank and a global hedge fund for conducting illegal short selling, without naming them, according to a spokesman at the office.