mo4ch:>George Soros fined over naked short selling by Hong Kong | Mo4ch News

Hong Kong’s securities regulator has fined a George Soros-controlled fund for compliance failures in the short selling trade. In China’s autonomous region, the billionaire is synonymous with excessive shorting activities.Regular shorting is a market position motivated by the belief that a security’s price will decline, enabling it to be bought back at a lower price to make a profit. Naked shorting is an illegal practice of short trading that refers to selling shares that have not been affirmatively determined to exist. Naked shorting takes place when investors sell shorts associated with shares that they do not possess and have not confirmed their ability to possess.SFM HK Management, which is run by the Hungarian investor’s $25 billion family office – the New York-based Soros Fund Management, was fined HK$1.5 million (nearly $200,000) over the so-called naked shorting of a locally listed firm.The latest Soros-related case dated back to 2015. Back then, the shorting target was Chinese…