Recently, the Inspectorate of the State Securities Commission (SSC) issued Decision No. 273/QĐ-XPHC regarding administrative penalties for securities and stock market violations against Mr. Nguyễn Nghĩa Dũng, the brother of Ms. Nguyễn Thị Ngọc Loan, Chairwoman of the Board of Directors of SMC Trading Joint Stock Company (Stock Code: SMC, HoSE).
Specifically, Mr. Dũng was fined 100 million VND for failing to report his planned transaction as required under Clause 3, Article 5, and Point g, Clause 5, Article 33 of Decree No. 156/2020/NĐ-CP dated December 31, 2020, issued by the Government. This decree outlines administrative penalties for violations in the securities and stock market sectors, as amended and supplemented by Clause 4 and Clause 27, Article 1 of Decree No. 128/2021/NĐ-CP dated December 30, 2021.
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In detail, Mr. Dũng sold 780,000 SMC shares (equivalent to a total par value of 7.8 billion VND) in March 2024 without reporting the planned transaction.
In a separate development, the Ho Chi Minh City Stock Exchange (HoSE) issued Decision No. 784/QĐ-SGDHCM, placing SMC shares under warning status effective September 16, 2025.
The reason for this action is that SMC violated information disclosure regulations four or more times within one calendar year, as stipulated in Point h, Clause 1, Article 36 of the Listing and Trading Rules for Listed Securities. These rules were issued under Decision No. 22/QĐ-HĐTV dated April 18, 2025, by the Board of Members of the Vietnam Stock Exchange.
Additionally, SMC shares remain under warning status as per Decision No. 384/QĐS-GDHCM dated May 28, 2025. This is due to the company’s undistributed after-tax profit on the consolidated semi-annual financial statements for 2025 being negative, with an except-for opinion from the auditor.
Furthermore, the warning status is maintained under Decision No. 232/QĐ-SGDHCM dated April 16, 2025, as SMC continues to violate information disclosure regulations.
On September 25, 2025, SMC will hold an Extraordinary General Meeting of Shareholders in Ho Chi Minh City. The meeting’s agenda includes electing two additional Board of Directors members and two additional members of the Supervisory Board for the 2021–2025 term.
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