Sanctions for violations against regulations on information disclosure in Vietnam from January 01, 2021

According to Article 42 of the Decree No. 156/2020/NĐ-CP of the Vietnam’s Government, violations against regulations on information disclosure are specified as follows:

- A warning shall be issued for committing one of the following violations:

+ Failing to carry out registration or re-registration of the person in charge of information disclosure or person authorized to disclose information or failing to promulgate regulations on information disclosure;

+ Failing to notify the State Securities Commission of Vietnam (SSC), Vietnam Exchange (VNX) and its subsidiaries of website and any changes thereof as prescribed by law.

- A fine ranging from VND 10.000.000 to VND 30.000.000 shall be imposed for committing one of the following violations:

+ Failing to comply with regulations on media and form of information disclosure;

+ Failing to retain information disclosed as prescribed by law.

- A fine ranging from VND 50.000.000 to VND 70.000.000 shall be imposed for committing one of the following violations:

+ Failing to disclose information within the prescribed time limits or at the request of SSC, VNX and its subsidiaries as prescribed in Clause 3 Article 120, Clause 4 Article 123, and Clause 3 Article 124 of the Law on Securities of Vietnam;

+ Failing to disclose adequate information as prescribed by law or at the request of SSC, VNX and its subsidiaries as prescribed in Clause 3 Article 120, Clause 4 Article 123, and Clause 3 Article 124 of the Law on Securities of Vietnam;

- A fine ranging from VND 70.000.000 to VND 100.000.000 shall be imposed for committing one of the following violations:

+ Failing to disclose information which must be disclosed as prescribed by law or at the request of SSC, VNX and its subsidiaries as prescribed in Clause 3 Article 120, Clause 4 Article 123, and Clause 3 Article 124 of the Law on Securities of Vietnam;

+ Failing to confirm or correct information or making late confirmation or correction of information when finding any information which may affect securities prices or receiving requests from SSC, VNX and its subsidiaries as prescribed in Clause 3 Article 120, Clause 4 Article 123, and Clause 3 Article 124 of the Law on Securities of Vietnam.

- A fine ranging from VND 100.000.000 to VND 200.000.000 shall be imposed for creating false information, or disclosing false information or concealing information about securities activities.

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

Ty Na

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