South Korea's Supreme Court upheld HSBC Hong Kong's acquittal on 15.8 billion won of alleged naked short sales, the country's first such criminal case. Its holding that an unexecuted sell order is not the offence gives the next prosecution a stricter test to meet.
Perspective Coverage
3 publishers
- Builder
- Builder 8%
- Operator
- Operator 42%
- Investor
- Investor 50%
Reality
- Evidence70
- Adoption
- Insufficient
- Hype gap+10
- Incentives35
- Confidence72
South Korea's Supreme Court ruled that gathering proxies for one meeting does not make shareholders joint holders under the 5% disclosure rule. A group owning under 5% can collect revocable proxies and vote them without filing a stake report.
Reality
- Evidence55
- Adoption
- Insufficient
- Hype gap+5
- Incentives
- Insufficient
- Confidence55
Korea's Supreme Court upheld suspended terms for Sewha IMC's founder and son, whom the appeals court found to have embezzled 8.2 billion and 14 billion won. A trial court had sentenced them to three to five years in prison over the embezzlement.
Reality
- Evidence58
- Adoption
- Insufficient
- Hype gap+10
- Incentives
- Insufficient
- Confidence55
The Supreme Court's Sentencing Commission recommends up to 15 years for an owner or chief executive when a worker dies, and reaching that figure takes the aggravated bracket, multiple aggravating factors and a 50% uplift.
Reality
- Evidence60
- Adoption12
- Hype gap+35
- Incentives45
- Confidence58
The court treated points earned at one Lotte affiliate and spent at another as a discount off the second sale, and it struck down the enforcement decree that had put those amounts back into the tax base.
Reality
- Evidence55
- Adoption
- Insufficient
- Hype gap−10
- Incentives40
- Confidence55
An SK Chemicals subsidiary's chief executive was acquitted because a dump truck driver's error was never in the risk assessment, while three other chief executives drew one, two and three years for breaches the courts could tie to a death.
Reality
- Evidence46
- Adoption52
- Hype gap+18
- Incentives62
- Confidence47
The Supreme Court confirmed the FTC's order against GS Retail, accepting that paperwork alone does not make a return voluntary. The burden in Korean retail moves from forms to evidence.
Reality
- Evidence57
- Adoption
- Insufficient
- Hype gap+14
- Incentives33
- Confidence58