Heavy fines for overdue listing or registration of securities in Vietnam

14:40, 07/01/2021

This is a notable content of the Decree No. 156/2020/NĐ-CP prescribing penalties for administrative violations against regulations on securities and securities market.

đăng ký giao dịch, niêm yết chứng khoán quá thời hạn, Nghị định 156/2020/NĐ-CP

Article 18 of the Decree No. 156/2020/NĐ-CP of the Vietnam’s Government has supplemented new provisions on violations against regulations on listing and registration of securities. To be specific:

- A fine ranging from VND 10.000.000 to VND 30.000.000 shall be imposed for late submission of application for listing or registration of securities of up to 01 month;

- A fine ranging from VND 30.000.000 to VND 70.000.000 shall be imposed for late submission of application for listing or registration of securities of exceeding 01 month to 03 months;

- A fine ranging from VND 70.000.000 to VND 100.000.000 shall be imposed for late submission of application for listing or registration of securities of exceeding 03 months to 06 months;

- A fine ranging from VND 100.000.000 to VND 200.000.000 shall be imposed for late submission of application for listing or registration of securities of exceeding 06 months to 09 months;

- A fine ranging from VND 200.000.000 to VND 300.000.000 shall be imposed for late submission of application for listing or registration of securities of exceeding 09 months to 12 months;

- A fine ranging from VND 300.000.000 to VND 400.000.000 shall be imposed for late submission of application for listing or registration of securities of exceeding 12 months, or failure to apply for listing or registration.

In fact, the act of failing to apply for listing or registration of securities, or failing to apply for listing or registration of securities by deadlines had been regulated at the Decree No. 108/2013/NĐ-CP with the maximum fine of VND 70.000.000. However, according to the above-mentioned provisions of the Decree No. 156/2020/NĐ-CP of the Vietnam’s Government, the maximum fine for the violations mentioned above is VND 300.000.000.

More details at the Decree No. 156/2020/NĐ-CP of the Vietnam’s Government, effective from January 01, 2021 and replaces the Decree No. 108/2013/NĐ-CP and Decree No. 145/2016/NĐ-CP.

Phuong Thanh

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