2023 is a volatile year for the Vietnamese stock market. At the same time, the number of violations in the stock market also tends to increase.
As of December 27, 2023, the State Securities Commission (SSC) has issued 145 penalty decisions with a total fine of up to VND 34.4 billion. Violations in the securities sector are mainly information disclosure errors, violations related to bond issuance activities, stock price manipulation, etc.
The State Securities Commission will penalize 145 cases in 2023 (Photo TL)
Of the 145 sanction decisions announced by the SSC, 27 were for individuals and 118 were for organizations. Compared to 2022, the number of sanction decisions issued by the SSC increased by 8, equivalent to a 6% increase.
The total amount of fines in 2023 increased by more than VND 6 billion compared to 2022, equivalent to an increase of about 23%. On average, each administrative penalty decision has an amount of VND 240 million, an increase of more than 18% compared to 2022.
The highest fine recorded in 2023 is VND 3 billion, accompanied by a 4-month suspension of securities trading activities for 1 stock in the banking industry.
Regarding the decisions on penalties related to stock price manipulation, the most notable case is the case of 5 individuals being penalized by the State Securities Commission for stock manipulation. The above cases are related to the stock codes C69, APG, FRM, ABR, FIR, GKM with fines of hundreds of thousands or even billions of VND.
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