Thursday August 27 2020
News Source: Global Disclosures
Focus: Short Selling
Country: Korean Republic
On 27th August 2020, the Financial Services Commission (FSC) announced its decision to extend the temporary ban on stock short sale for six months from September 16, 2020 to March 15, 2021, given the market volatility amid concerns over a resurgence in COVID-19 cases.1
The lifting of share buyback limits for listed companies will also be extended during the six-month period. In the meantime, the FSC plans to draw up regulatory improvements to strengthen penalties on illegal short sale activities and improve the accessibility of retail investors to the short sale market.
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