From 2021, conducting issuance of additional shares without submitting reports shall be fined up to VND 300 million in Vietnam

Le Hai

10:00, 01/01/2021

Recently, 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.

The Decree No. 156/2020/NĐ-CP of the Vietnam’s Government has increased penalties for administrative violations against regulations on securities and securities market many times compared to the Decree No. 108/2013/NĐ-CP, for example, according to provisions on violations against regulations on issuance of additional shares of the Decree No. 156/2020/NĐ-CP, from January 01, 2021, a fine ranging from VND 200.000.000 to VND 300.000.000 shall be imposed for committing one of the following violations:

- Conducting issuance of additional shares without submitting reports to the State Securities Commission of Vietnam (SSC) or before obtaining SSC’s certificate of receipt of adequate reports on issuance of additional shares;

- Conducting issuance of additional shares without applying for registration of issuance of additional shares with SSC; Conducting issuance of additional shares before or without obtaining SSC’s approval;

- Conducting issuance of additional shares without fulfilling requirements set forth in law.

In comparison with the Decree No. 108/2013/NĐ-CP, the above-mentioned violations shall just be fined from VND 100.000.000 to VND 150.000.000.

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

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