FLC Group Securities Company Fined Over 1 Billion VND

BOS Securities Joint Stock Company, a unit of the FLC "family", was fined more than 1 billion VND due to violations of hiding transaction information with a group of individuals and relatives of FLC.

The decision to fine BOS Securities was made by the State Securities Commission on February 6. This is a securities company within the ecosystem of FLC Group. BOS must pay an administrative fine of a total of VND1.08 billion for 8 violations in the field of securities trading.

According to the announcement of the State Securities Commission, BOS was fined 137.5 million VND for violating the regulations on receiving and executing transaction orders when customers did not have enough money in their accounts at the time of purchase.

The company also violated regulations by lending money to some customers to pay for purchase orders on the day of clearing. The fine for this act was VND187.5 million.

In addition, BOS was also fined for concealing transaction information from a group of individuals related to the leaders - Ms. Huong Tran Kieu Dung, former Chairman of BOS Securities, also Vice Chairman of FLC Group and Ms. Trinh Thi Thuy Nga, member of the Board of Directors and Deputy General Director of BOS Securities Company and sister of Mr. Trinh Van Quyet and other related parties.

In April 2022, Ms. Huong Tran Kieu Dung was fined VND70 million for being a member of the Board of Directors of 7 companies at the same time. At the same time, Ms. Dung and Ms. Thuy Nga were arrested on charges of stock manipulation and concealment.

According to the decision of the Securities Commission, BOS Securities Company was also fined about VND 250 million for violations such as not disclosing information on financial and management reports for 2022 and the first quarter of 2023; internal audit reports, anti-money laundering 2020-2021.

Before BOS, the State Securities Commission had repeatedly imposed administrative fines on subsidiaries, ecosystem companies and FLC Group for violations in transactions. Most recently, last month, FLCHomes Company - part of the FLC ecosystem was fined more than VND90 million for not publishing financial and management reports.

Mr. Minh

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