South Korea to unveil guidelines for short-selling

It plans to expand the English DART and Open DART services in January.

South Korea’s Financial Supervisory Service is set to unveil comprehensive guidelines for short selling, a year after two foreign banks were fined for naked short selling.

The FSS is also set to establish a registration number system for short selling, expand English DART services, and introduce Open DART in January 2025.

In January 2024, media reports said that Korean authorities were looking to fine two Hong Kong-based banks for naked short-selling, or when an investor basically shares, they do not hold.

Korea’s Financial Services Commission (FSC) had banned naked short selling until 31 March 2025.

The FSS plans to hold an expert forum in February. It also outlined plans to give a joint briefing with relevant organizations to help financial companies have a better understanding of the alternative trading system (ATS) and have an open meeting with market participants to discuss the development of short selling-related systems as well.

In March and April, the FSS said that it will launch onsite inspections for resumption of short selling, demonstrate the process for monitoring naked short selling, and hold a meeting to define the role of shareholder activism.

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