South Korea's FSS works to improve market practices on short selling

South Korea's Financial Supervisory Service (FSS) is inclined to improve policy on short selling rather than punishing local brokerages. FSS governor Lee Bok-hyun made the statement following complaints from individual investors about the bearish market practice that regulators are reluctant to level the playing field. Lee said that a routine checkup is needed to see if they could come up with a better way to regulate the practice. He said the inspection would take place in October at the earliest, adding that he had been backing efforts to root out “all unfair market practices”, including short selling. Lee assured that the watchdog had and will work with prosecutors and the Financial Services Commission, the top financial policymaker, to steady the markets and prevent unfair practices.