VIX Securities Fined VND315 Million for a Series of Violations

The State Securities Commission has just issued Decision No. 1163 on administrative sanctions against VIX Securities Corporation (HoSE: VIX) located at 22nd floor, 52 Le Dai Hanh, Le Dai Hanh ward, Hai Ba Trung district, Hanoi .

Accordingly, VIX was fined VND 137.5 million according to the provisions of Point g, Clause 3, Article 26 of Decree No. 156 dated December 31, 2020 of the Government stipulating administrative sanctions for violations in the field of securities and the securities market for violating regulations on receiving and executing customer trading orders.

Specifically, some orders received directly at the counter did not have full information about the time the customer placed the order and the time the company received the order. In addition, the company allowed some customers to place orders to buy securities when they did not have enough money in their accounts.

VIX was also fined an additional $137.5 for allowing customers to make margin trades that exceeded the buying power of some margin trading accounts on some trading days.

In addition, VIX must pay an additional fine of VND40 million for arranging for employees to hold concurrent jobs when they are not allowed to do so. Accordingly, the company has arranged for internal auditors to hold other jobs in the company. Thus, the total fine that VIX must pay is VND315 million.

VIX Securities Corporation was established in 2007 under the name Vincom Securities Corporation. The Company's shares with the listing code VIX were officially listed on the Hanoi Stock Exchange from December 29, 2009.

On October 20, 2020, the company officially changed its name to VIX Securities Joint Stock Company. On January 8, 2021, VIX Securities shares were officially traded on the Ho Chi Minh City Stock Exchange.

The company's main activities include securities brokerage, securities trading, securities underwriting and securities investment consulting .

Thu Huong

Source: https://www.nguoiduatin.vn/chung-khoan-vix-bi-phat-315-trieu-dong-vi-loat-sai-pham-a639961.html