VietlawOnline

blue-check Increase in fines on violations against regulations on securities from January 1st, 2022

Decree No. 128/2021/ND-CP dated December 30th, 2021 of the Government on providing amendments to the Government’s Decree No. 156/2020/ND-CPstatus2 dated December 31, 2020 prescribing penalties for administrative violations against regulations on securities and securities market
Posted: 31/12/2021 3:10:59 PM | Latest updated: 20/5/2022 7:06:11 AM (GMT+7) | LuatVietnam: 5368 | Vietlaw: 551
VietlawOnline

Some violations below of securities companies shall be subject to fines or increase in fines from January 1st, 2022:

- A fine ranging from VND 50.000.000 to VND 70.000.000 shall be imposed upon a public company for failing to notify the maximum foreign ownership ratio;

- A fine ranging from VND 100.000.000 to VND 140.000.000 shall be imposed for failing to submit reports on the holding of at least 5% of voting shares of a public company;

- A fine ranging from VND 100.000.000 to VND 200.000.000 shall be imposed for failing to open an escrow account to receive payments for shares in foreign currency;

- A fine ranging from VND 200.000.000 to VND 400.000.000 shall be imposed for performing business operations in Vietnam beyond the licensed scope of operation of the representative office of a securities company (the old level was ranging from VND 100.000.000 to VND 200.000.000).

- A fine ranging from VND 100.000.000 to VND 200.000.000 shall be imposed for submitting reports containing false or inaccurate information (the old level was ranging from VND 70.000.000 to VND 100.000.000).

- A fine ranging from VND 200.000.000 to VND 300.000.000 shall be imposed for providing false information or concealing information in securities activities (the old level was ranging from VND 100.000.000 to VND 200.000.000).

….

This Decree takes effect from January 1st, 2022.

Admin_05

Related documents

Penalty document

Unknown

Information

Effective Date 1-Jan-2022
ExpiredDate Unknown
Published Vietlaw's Newsletter No. 551

Files attachment

enflag pdficon ND128-30122021CP[EN].pdf

Timeline

No data

Securities

blue-check Issues relating to distribution of profits from private funds
blue-check Fees and charges for management and supervision of securities activities
blue-check From March 25th, 2022: Provisions for investments in Government bonds shall not be made
blue-check Guidelines for preparation of pro forma financial statements (for securities companies)
blue-check New regulation on supervision of the compliance with laws of Vietnam Exchange
blue-check Conditions for banks performing securities-related activities
blue-check Increase in fines on violations against regulations on securities from January 1st, 2022
blue-check List of government bond market makers in 2022
blue-check Regulations on information disclosure of securities investors
blue-check From 2022: Securities companies shall apply the new financial regime
blue-check Schedule of prices of securities services from January 1st, 2022
blue-check Schedule of prices of securities services applied in stock exchanges from January 1st, 2022
blue-check Banks are only allowed to purchase corporate bonds when their non-performing loan ratio is less than 3%
blue-check Regarding PIT on income from securities transfer outside Vietnam
blue-check Regulations on performance of corporate actions for holders of securities at Vietnam Securities Depository from August 20th, 2021
blue-check Rules of trading of financial instruments among banks
blue-check Roadmap for reorganization of securities market
blue-check Conditions for trading derivatives under futures contracts
blue-check New regulations on obligations in securities trading of foreign investors
blue-check Regulations on financial management and investment of Vietnam Exchange