Handling Member Violations (Part 3)

In the previous issue, the Industry and Trade Newspaper mentioned some forms of handling violations of members at the Vietnam Commodity Exchange (MXV) such as written reminders and warnings. Continuing today's Q&A issue, the Industry and Trade Newspaper will go into detail to clarify the remaining forms of handling violations in the MXV regulations.

Handling violations by suspending part or all of the activities

Violations will be handled by partial or complete suspension of activities when members violate the following regulations:

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Late payment of annual fee more than 7 working days from the due date;

Late payment of database usage fee more than 7 working days from the fee payment deadline;

Late payment of data sharing fee more than 7 working days from the due date;

Late payment of membership guarantee deposit more than 7 working days from the deadline as prescribed by MXV;

Late payment of payment risk support; payment risk support loan; interest arising from loan over 7 days from the payment deadline as prescribed by MXV;

Failure to fully and timely perform other financial obligations as required by MXV more than 7 working days from the deadline for performing financial obligations as prescribed by MXV;

The member has been disciplined with a warning once (for violations that were disciplined with a Warning) but continues to violate in the same calendar year.

Handling violations with additional forms

In addition to the main forms of handling violations such as Written warnings, Warnings, Partial or complete suspension of activities, and Termination of Membership, MXV also has the following additional forms of handling violations:

Publicize information to the entire market;

Compel explanation and provision of information and data related to clarifying suspicious trading activities of members and/or members' customers;

No transaction limit increase considered (limited);

Reduce transaction limits;

Restrict or prohibit the opening of new commodity trading accounts;

Control, restrict a part of the transaction for a limited time;

Special supervision: members periodically report on their operational status as required by MXV. If necessary, MXV may send staff to directly supervise at the member's headquarters.

Source: https://congthuong.vn/hoi-dap-giao-dich-hang-hoa-so-63-xu-ly-vi-pham-thanh-vien-phan-3-313580.html