South Korea has imposed combined fines of two billion won ($1.54 million) on three unnamed global hedge funds for violations of capital market law including illegal short selling and unfair trades. The country’s Financial Services Commission and Financial Supervisory Service made the announcement in a joint statement. The fines mark the authorities’ latest efforts to weed out illegal short-sellers from the local stock market. The decision also comes after regulators proposed such punishment for two unnamed global investment banks in October for “routinely and intentionally” violating the relevant rules. The penalties ... (full story)