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The Korea Herald wants tougher penalties for illegal short selling (counterfeit shares) and it isn't buying the excuses (human error, inadvertent mistake) given for why it happens so often. "...Stronger penalties are also necessary. By law, those who attempt illegal naked short selling are subject to a prison term of one year or more, or a fine of up to five times the undue profits gained through the illegal activity. However, there were only fines imposed and no criminal penalties in the 174 cases of illegal short selling identified between 2010 and August last year, 156 of which were committed by foreign investors. An average of about 30 percent of the amount of naked short selling orders have been imposed as fines...." https://t.co/ADfb6Kv0YR #southkorea #nakedshortselling #CounterfeitShares