Credit Suisse faces a 50 billion won ($36m) penalty for alleged illegal short selling in South Korea, per FSS.

Credit Suisse faces a 50 billion won ($36m) penalty for alleged illegal short selling in South Korea, according to local reports. The Financial Supervisory Service (FSS) is fining Credit Suisse's Singapore and South Korean units as part of a broader investigation into the practice. The penalty will be subject to review by committees at the FSS and the Financial Services Commission before it is finalized.