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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
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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.

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Information
Effective Date 1-Jan-2022
ExpiredDate Unknown
Published Vietlaw's Newsletter No. 551
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enflag pdficon ND128-30122021CP[EN].pdf
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