• Quantum BioPharma (NASDAQ: QNTM) has announced a $7 million reward for anyone who can provide definitive and verifiable proof of market manipulation involving its stock, the company said on Wednesday.
• The biopharmaceutical firm stated that the cash reward will be issued only if the information provided is tangible, supported by strong evidence, and leads to a final, non-appealable judgment in Quantum BioPharma’s favor.
• According to the company, employees, affiliates, or regulatory personnel who submit unlawful, false, or misleading information will be disqualified and deemed ineligible for the reward.
• Quantum BioPharma described the initiative as part of its broader commitment to market integrity, shareholder transparency, and accountability across financial markets.
• The company added that the reward aims to encourage credible whistleblowers and expose potential manipulation affecting the fair valuation of its publicly traded shares.

The FSS's recent findings are part of an ongoing probe into 14 foreign banks, revealing unauthorized transactions now implicating nine banks with combined irregularities worth 211.2 billion won ($154.76 million). The investigation is still ongoing for five other banks, details of which remain undisclosed by the FSS.

In related news, South Korea's Chosun Ilbo daily reported that Credit Suisse AG had been informed of a potential 50 billion won fine for non-compliance with short-selling regulations. This notice involves the bank's South Korean and Singaporean branches, although both FSS and UBS, which acquired Credit Suisse in 2023, have not commented on the matter.

Amidst these developments, the FSS is collaborating with Hong Kong authorities and will be discussing South Korea's short-selling laws there later this month. In response to these breaches, South Korea has extended its ban on "naked" short selling – selling shares without securing them beforehand – and is developing new monitoring systems to better identify and prevent such violations in the future.