The State Securities Commission (SSC) has just issued a decision to administratively sanction Vietnam International Securities Corporation - VISecurities with a fine of up to hundreds of millions of VND.
Specifically, Vietnam International Securities was fined for administrative violations in information disclosure. The company reported incorrect information about financial safety ratios at the following times: June 30, 2021, December 31, 2021, June 30, 2022, December 31, 2022 and June 30, 2023. For this violation, VISecurities was fined VND 175 million.
Vietnam International Securities - VISecurities was fined 235 million VND for publishing false information about financial safety ratio (Photo TL)
The company was forced to remedy the consequences by disclosing accurate information in accordance with state regulations.
In addition, Vietnam International Securities was also fined an additional VND60 million for arranging for people without securities practice certificates to perform operations and positions that, according to law, require securities practice certificates.
In particular, the company arranged for an employee named Nguyen Ngoc Phuong Tram, who did not have a practicing certificate, to work as a securities trading account opening employee. At the same time, this employee also signed a contract to open a securities trading account with account number 020C127676.
The total fine of Vietnam International Securities is 235 million VND.
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