July 16, 2019 / 7:03 AM / 3 months ago

S.Korea bourse fines BofA Merrill Lynch branch over irregular trading

SEOUL, July 16 (Reuters) - The Korea Exchange (KRX) said on Tuesday it has decided to impose a 175 million won ($148,655) fine on Bank of America Merrill Lynch’s South Korean unit for irregular trading activities.

The bourse in a statement said a review of the investment bank’s trading had uncovered phantom orders.

A Hong Kong-based spokesman for Bank of America Merrill Lynch declined to comment.

$1 = 1,177.2200 won Reporting by Hayoung Choi and Ju-min Park in Seoul and Alun John in Hong Kong; Editing by Christopher Cushing

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