Legal Counselling

Violations against regulations on application for registration of public offering in Vietnam shall be fined up to VND 3 billion

16:45, 06/01/2021

The Government of Vietnam has issued the Decree No. 156/2020/NĐ-CP prescribing penalties for administrative violations against regulations on securities and securities market. Theo đó, những hành vi vi phạm về hồ sơ đăng ký chào bán chứng khoán ra công chúng có thể sẽ bị phạt đến 3 tỷ đồng.

hồ sơ đăng ký chào bán chứng khoán ra công chúng, Nghị định 156/2020/NĐ-CP

In comparison with the Decree No. 108/2013/NĐ-CP and Decree No. 145/2016/NĐ-CP, Article 9 of the Decree No. 156/2020/NĐ-CP of the Vietnam’s Government has increased the penalties for violations against regulations on application for registration of public offering in Vietnam. Specifically as follows:

Violation	Fines at the Decree No. 156/2020/NĐ-CP (VND)	Fine at the Decree No. 108/2013/NĐ-CP (amended by the Decree No. 145/2016/NĐ-CP) (VND)
Failing to revise the application for registration of public offering when finding inaccurate, inadequate or misleading information or any new information related to the application.	100.000.000 – 150.000.000	80.000.000 – 120.000.000
Preparing or making certification on the application for registration of public offering which contains false information or conceals true information.	400.000.000 - 500.000.000	200.000.000 – 300.000.000
Forging documents or making certification on forged documents proving satisfaction of public offering requirements included in the application for registration of public offering.	2.500.000.000 - 3.000.000.000	Between 1% and 5% of the total raised-illegally money amount

It can be seen that the promulgation of the Decree No. 156/2020/NĐ-CP has significantly increased the penalties compared to the previous regulation. Concurrently, for forging documents or making certification on forged documents proving satisfaction of public offering requirements included in the application for registration of public offering, the Decree No. 156/2020/NĐ-CP has replaced the penalty rate calculated as a percentage of the total raised-illegally money amount with a specific amount with the highest penalty amounting to VND 3 billion.

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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