Recently, the State Securities Commission (SSC) has announced administrative sanctions in the field of securities and securities market against Vietnam Public Joint Stock Commercial Bank Fund Management Joint Stock Company (PVCB Capital) headquartered at 9th Floor, Hapro Building, No. 11B Cat Linh Street, Quoc Tu Giam Ward, Dong Da District, Hanoi City.
Accordingly, this company was fined VND 175 million according to the provisions of Point c, Clause 4, Article 27 of Decree No. 156/2020/ND-CP dated December 31, 2020 for violating regulations on financial investment.
Specifically, PVCB Capital made advances to a number of individuals who were employees of the company, the purpose of the advances was to advance the company's operating expenses, without specific work content for each employee.
According to the explanatory note to the financial report for the second quarter of 2023, the charter capital according to the establishment license of PVCB Capital is 100 billion VND, of which PVComBank holds the majority with 99.97%, the rest belongs to 2 individuals including Ms. Nguyen Thanh Ngoc and Ms. Tran Thi Thu Hang (each person holds 0.015%).
In the explanation of after-tax fluctuations in the second quarter of 2023, PVCB Capital's after-tax profit decreased by VND 2.14 billion, equivalent to a decrease of 101%. The main reason is that due to the general impact of the market, mobilizing investment capital from organizations and new individual customers encountered many difficulties, so revenue from Portfolio Management activities decreased significantly compared to the second quarter of 2022 .
Thu Huong
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