Regulations on the Handling of Violations in the Field of Securities

I am currently studying the securities sector under the new regulations. Could you please provide information on how violations in the securities sector are handled according to these regulations? Thank you for your assistance.

Pursuant to Article 132 of the Securities Law 2019 (Effective January 1, 2021), the handling of violations in the field of securities is stipulated as follows:

- Organizations and individuals with acts of violating provisions of this Law and other related laws in securities activities and the securities market, depending on the nature and level of the violation, shall be subject to administrative penalties or criminal prosecution; if causing damage, they must compensate according to the provisions of the law.

- Administrative penalties for violations shall be implemented according to the provisions of this Law and the law on handling administrative violations.

- The maximum monetary fine for administrative violations of the provisions in Clauses 2 and 3, Article 12 of this Law is 10 times the illegal gain obtained from the violation. If there is no illegal gain or the fine calculated from the illegal gain is less than the maximum fine specified in Clause 4 of this Article, then the maximum fine specified in Clause 4 of this Article shall be applied. The Minister of Finance prescribes the method for calculating the illegal gain obtained from the implementation of acts violating the securities law and the securities market.

- The maximum monetary fine for administrative violations of other violations in the field of securities is 3 billion VND.

- The maximum monetary fine stipulated in Clauses 3 and 4 of this Article is applied to organizations; individuals committing the same violations will be fined a maximum of half the maximum monetary fine for organizations.

- The Chairman of the State Securities Commission, Chief Inspector, Head of the specialized securities inspection team has the authority to impose administrative sanctions in the field of securities.

- The Government of Vietnam prescribes the authority, penalty levels, and forms of penalties for each administrative violation in the field of securities.

We are responding with this information!

Sincerely!

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