Vietnam: Erasing, modifying securities practice certificate shall be fined up to VND 150 million

11:25, 30/09/2013

Recently, the Government of Vietnam has issued Decree No. 108/2013/NĐ-CP providing for the sanctioning of administrative violations in the domains of securities and securities market.

Tẩy xóa, sửa chữa chứng chỉ hành nghề chứng khoán, Nghị định 108/2013/NĐ-CP

According to Decree No. 108/2013/NĐ-CP of Vietnam’s Government, a fine of between VND 100,000,000 and 150,000,000 for any of the following violations:

- Borrowing, renting securities practice certificate or lending, leasing securities practice certificate;

- Erasing, modifying securities practice certificate.

Besides, deprivation of the right to use securities practice certificates for duration of 06-12 months shall be imposed on a securities practitioner conducting any of the following violations, unless otherwise provided by law:

- Concurrently working for another institution which has ownership relations with the Securities Company or fund management company at which he/she is working;

- Concurrently working for another securities company or fund management company;

- Concurrently acting as the director or director general of an institution making a public offering of securities or an issuing institution;

- Concurrently opening a securities trading account at another securities company.

View more details at Decree No. 108/2013/NĐ-CP of Vietnam’s Government, effective from November 15, 2013.

Ty Na

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