On November 26, the State Securities Commission of Vietnam (SSC) announced administrative penalties for securities and stock market violations against five real estate companies, totaling VND 545 million in fines.
Specifically, Lucky House Investment Services JSC was fined VND 175 million for providing misleading information in its report on the use of capital raised from a private bond issuance from December 31, 2022, to June 30, 2023. The company’s disclosed capital usage, related to early bond repurchases, did not align with its financial statements.
Among the penalized real estate companies is Novaland.
No Va Thao Dien LLC (Sunrise City North Apartment Complex) was fined VND 92.5 million for failing to disclose information regarding early bond repurchases as required by regulations.
Nova Real Estate Investment Corporation (Novaland) was also fined VND 92.5 million for untimely disclosure of financial reports, audited semi-annual bond proceeds usage in 2024, and bond principal and interest payment status.
Additionally, Dream City Villas Real Estate Business LLC and Minh Tan Urban Development and Investment LLC were each fined VND 92.5 million. Both companies failed to disclose mandatory information regarding previous years’ financial reports and the use of capital raised from bond issuances.
A Securities Firm Faces Repeated Administrative Penalties by the State Securities Commission
This marks the second time in the past six months that Capital Securities has been subjected to administrative penalties by the State Securities Commission of Vietnam (SSC) in the securities and stock market sector.
Two Individuals Fined VND 3 Billion for Stock Manipulation Using 19 Accounts
The State Securities Commission (SSC) has recently issued penalties against multiple individuals involved in the manipulation of Petro Times Corporation’s (PPT) stock. Two individuals were fined a total of 3 billion VND for using 19 accounts to repeatedly buy and sell shares, artificially creating supply and demand to manipulate the stock price.
Two Businesses Fined for Violating Disclosure Regulations
The State Securities Commission of Vietnam (SSC) has issued administrative penalties against TNH Hospital and CFS for violations related to information disclosure.
Breaking News: Securities Firm Placed Under Special Control, Margin Lending Suspended
This company’s shares are currently subject to trading restrictions on the HNX exchange.
Why Was Kido Fined VND 240 Million in Administrative Penalties?
Kido has been fined a total of 240 million VND by the State Securities Commission of Vietnam (SSC) for failing to disclose information in a timely manner and for releasing misleading information.
