Administrative sanctions for violations of the regulations on organization of the securities trading market in Vietnam

Administrative sanctions for violations of the regulations on organization of the securities trading market in Vietnam (Internet image)

Article 16 of Decree 108/2013/ND-CP stipulates administrative sanctions for violations of the regulations on organization of the securities trading market in Vietnam as follows:

• A fine of between VND 1,800,000,000 and 2,000,000,000 shall be imposed on organizations conducting act of organization of the securities trading market in contravention of law in case there is no illegal revenue.

• A fine equal to between one to five times the illegal earning amounts as prescribed shall be imposed on organizations conducting act of organization of the securities trading market in contravention of law in case of having illegal revenues but not less than VND 2,000.000.000

In addition, this Decree also stipulates the the additional sanctioning forms and remedial measures for violations of the regulations on organization of the securities trading market in Vietnam as follows:

• The additional sanctioning forms: Suspension of business and provision of securities services for duration of 01-03 months for violations of regulations on organization of securities trading market.

• Remedial measures: Forcible remittance of illicit earnings from the commission of act of organization of the securities trading market in contravention of law by organizations

More details can be found in Decree 108/2013/ND-CP which comes into force from November 15, 2013.

Ty Na

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