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Official Gazette

Sunday, August 20, 2017

False securities information providers face hefty fines

Updated: 03:22’ - 15/04/2014

 From March 1, a fine of VND 100-150 million will be imposed on securities companies intentionally providing investors and clients with inaccurate, inadequate or groundless information, advices or recommendations, or concealing true securities prices or factors affecting prices of one or several kinds of securities, misleading investors and clients as to securities prices and making them take wrong investment decisions.

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Leaders of Hanoi Stock Exchange and State Treasury inspect an e-auction of bonds__Photo: Tuan Anh/VNA


Such a fine is specified in the Ministry of Finance’s Circular No. 217/2013/TT-BTC of December 31, guiding the sanctioning of administrative violations in the field of securities and securities market.

In addition, organizations that make and certify dossiers for securities listing and trading registration containing intentionally falsified information or concealing facts or make and certify forged dossiers for securities listing and trading registration will be suspended from listing securities or registering securities trading for between one and three months if the Stock Exchange has given approval to such organizations.

Organizations that register for public offering of securities and make securities offerings when the State Securities Commission is still considering the grant of public offering certificate will face a fine equal to one to five times their illegal earnings from their violations.

A fine of VND 400 million will be imposed in case the fine equaling five times the illegal earnings is still lower than the maximum fine as specified at Point c, Clause 4, Article 6 of Decree No. 108/2013/ND-CP.-

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