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George Soros Fined By Hong Kong Security Regulator for ‘Compliance Failures’

Globalist billionaire is notorious for excessive shorting activities

 on 7th December 2018 @ 8.00pm
 globalist billionaire is notorious for excessive shorting activities © press
Globalist billionaire is notorious for excessive shorting activities

A George Soros-controlled fund has been fined by Hong Kong’s securities regulator for 'compliance failures' in the short selling trade, according to reports.

The globalist billionaire is notorious for excessive shorting activities in China’s autonomous region.

Known as a market position motivated by the assumption that a security’s price will decrease, regular shorting allows the buyer to buy back at a lower cost to make a profit.

Naked shorting is the illegal practice of short trading, which relates to selling shares that are verified as in existence.

george soros fined by hong kong security regulator for    compliance failures   © press

[RELATED] Obama Gave Soros-Linked Group $310 Million to Help Migrants Escape Deportation

Naked shorting happens when investors trade shorts linked with shares that they do not possess.

SFM HK Management, which is run by the New York-based Soros Fund Management, was fined HK$1.5 million (nearly $200,000) over the naked shorting.

“The SFC considers that SFM not only failed to act with due skill, care, and diligence in dealing in the bonus shares but also failed to diligently supervise its staff members and implement adequate and effective systems and controls to ensure compliance with the short selling requirements,” According to the official statement.

In August 2015, the Chinese car manufacturer announced the bonus share issue.

george soros fined by hong kong security regulator for    compliance failures   © press

According to RT: The local unit of the Soros-owned fund asserted plans to sell Great Wall Motors’ shares.

Before the announcement about another issue of shares by the automaker, Soros’ fund had already owned 808 thousand Great Wall Motors shares.

Its custodian notified SFM HK Management that it was called to 1.6 million bonus shares as a result of already owning a stake.

The subsidiary booked those shares to be allotted into its trading system without distributing them into a restricted account, as required by internal policy.

As a result of the illegal manipulation, portfolio managers of the Soros’ company placed an order to sell 2.4 million Great Wall Motors shares, making it 1.6 million shares short.

George Soros earned millions of dollars during the Asian financial crisis that hit the region twenty years ago.

His trading activities in Thailand, Malaysia, and Hong Kong were even criticized for causing a currency crisis.

[RELATED] Migrant Mother Says She Was Pressured to Storm US Border by Soros-Linked Group

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