Vietnam: Failing to disclose information within the prescribed time limits about expected transactions shall be severely fined from 2021

According to Clause 2 Article 33 of the Decree No. 156/2020/NĐ-CP of the Vietnam’s Government, failing to disclose information within the prescribed time limits about expected transactions and transaction results from January 01, 2021 shall be imposed fines as follows:

- A fine ranging from VND 5.000.000 to VND 10.000.000 shall be imposed if the registered transaction value of shares, call options for shares, convertible bonds, call options for convertible bonds, fund certificates, call options for fund certificates or secured warrants of public companies, public investment companies or public funds is from VND 50.000.000 to under VND 100.000.000;

- A fine ranging from VND 10.000.000 to VND 30.000.000 shall be imposed if the registered transaction value of shares, call options for shares, convertible bonds, call options for convertible bonds, fund certificates, call options for fund certificates or secured warrants of public companies, public investment companies or public funds is from VND 100.000.000 to under VND 300.000.000;

- A fine ranging from VND 30.000.000 to VND 50.000.000 shall be imposed if the registered transaction value of shares, call options for shares, convertible bonds, call options for convertible bonds, fund certificates, call options for fund certificates or secured warrants of public companies, public investment companies or public funds is from VND 300.000.000 to under VND 500.000.000;

- A fine ranging from VND 50.000.000 to VND 70.000.000 shall be imposed if the registered transaction value of shares, call options for shares, convertible bonds, call options for convertible bonds, fund certificates, call options for fund certificates or secured warrants of public companies, public investment companies or public funds is from VND 500.000.000 to under VND 1.000.000.000;

- A fine ranging from VND 70.000.000 to VND 90.000.000 shall be imposed if the registered transaction value of shares, call options for shares, convertible bonds, call options for convertible bonds, fund certificates, call options for fund certificates or secured warrants of public companies, public investment companies or public funds is from VND 1.000.000.000 to under VND 3.000.000.000;

- A fine ranging from VND 90.000.000 to VND 110.000.000 shall be imposed if the registered transaction value of shares, call options for shares, convertible bonds, call options for convertible bonds, fund certificates, call options for fund certificates or secured warrants of public companies, public investment companies or public funds is from VND 3.000.000.000 to under VND 5.000.000.000;

- A fine ranging from VND 110.000.000 to VND 150.000.000 shall be imposed if the registered transaction value of shares, call options for shares, convertible bonds, call options for convertible bonds, fund certificates, call options for fund certificates or secured warrants of public companies, public investment companies or public funds is from VND 5.000.000.000 to under VND 10.000.000.000;

- A fine equal to 5% of the registered transaction value but not exceeding VND 3.000.000.000 shall be imposed if the registered transaction value of shares, call options for shares, convertible bonds, call options for convertible bonds, fund certificates, call options for fund certificates or secured warrants of public companies, public investment companies or public funds is VND 10.000.000.000 or more.

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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