Legal Counselling

Vietnam’s regulations on administrative penalties for violations of the regulations on reporting in the domains of securities

14:14, 30/09/2013

This is a notable content of Decree No. 108/2013/NĐ-CP of Vietnam’s Government providing for the sanctioning of administrative violations in the domains of securities and securities market.

xử phạt về báo cáo trong lĩnh vực chứng khoán, Nghị định 108/2013/NĐ-CP

According to Article 34 of Decree No. 108/2013/NĐ-CP of Vietnam’s Government, administrative penalties for violations of the regulations on reporting in the domains of securities and securities market are specified as follows:

1. A fine of between VND 10,000,000 and 30,000,000 for failing to archive reported information under law.

2. A fine of between VND 50,000,000 and 70.000.000 for reporting not within the prescribed time limit, not adequate content in accordance with law or at the request of the State Securities Commission.

3. A fine of between VND 70,000,000 and 100,000,000 for any of the following violations:

- Failing to report in accordance with law or at the request of the State Securities Commission;

- Inaccurately reporting.

Concurrently, Decree No. 108/2013/NĐ-CP stipulates form of additional sanction and remedial measures as follows:

- Additional sanctioning forms: Suspension of activities of securities business, securities services of Securities Company, fund Management Company, for duration of 01-03 months, for securities companies, fund management companies failing to report in accordance with law or at the request of the State Securities Commission; inaccurately reporting.

- Remedial measures: Forcibly correcting information for inaccurate reporting.

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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