A representative acting on behalf of Singapore's sovereign wealth fund has been hit with a 120.6 million won penalty for engaging in naked short selling practices, according to South Korean regulatory filings. The enforcement action highlights ongoing scrutiny from market authorities over questionable trading tactics, even among major institutional players. Naked short selling—where traders sell securities they don't actually possess or haven't properly arranged to borrow—remains a persistent compliance issue that regulators continue to police. The substantial fine underscores how jurisdictions are tightening their grip on market manipulation and irregular trading behavior, setting clearer expectations for institutional actors navigating cross-border financial activities.