Securities Commission Fines 3 Companies Over $26,000

The State Securities Commission has just announced the decision to impose a fine of 600 million VND on 3 enterprises. The enterprise that was fined the most, nearly 450 million VND, was fined for failing to register for securities transactions.

0
65

Specifically, Minh Duc Chemical Joint Stock Company was fined VND 442.5 million for 2 violations. This enterprise was fined VND 350 million for not registering the securities transaction, and forced to remedy and submit the securities registration dossier within a maximum of 60 days.

The company was also fined VND 92.5 million for failing to disclose the following documents: Report on corporate governance in the first 6 months of 2023, disclosing information on the expected last registration date for existing shareholders to attend the Annual General Meeting of Shareholders (AGM) in 2023 and 2022, disclosing information on signing the financial statement audit contract in 2022.

The company disclosed information untimely for the audited financial statements in 2022, the annual reports in 2022 and 2021, the corporate governance report in 2022, the resolutions of the Annual General Meeting of Shareholders in 2023 and 2022, documents of the Annual General Meeting of Shareholders in 2023 and 2022…

Disclosure violations are mainly related to bonds.

An Phuoc Shoe Embroidery Sewing Co., Ltd. was fined VND 92.5 million for not disclosing periodic information for the following: reports on the use of capital from bond issuance in 2020, 6 months in 2021, in 2021, 6 months in 2022, financial statements for 6 months in 2021, in 2020, in 2021, 6 months in 2021, 6 months in 2022, in 2020, in 2021.

Also for violating the disclosure of information, Signo Land JSC was fined VND 92.5 million. The company failed to disclose various reports on the status of interest and principal payment of bonds, the status of the implementation of commitments of the issuing enterprise to bondholders, the status of the use of funds raised from bond issuance… in the years 2021, 2022, 2023.