The State Securities Commission of Vietnam (SSC) recently issued Decision No. 481/QĐ-XPHC, imposing administrative penalties on Mirae Asset Securities Company (Mirae Asset) for violations in the securities and stock market sector.
Specifically, Mirae Asset was fined VND 250 million for failing to ensure that the information in the offering or private bond issuance file contained all the required details as stipulated. The penalty decision highlighted that the Disclosure Document (DD) provided by Mirae Asset for the private corporate bond issuance of two issuers lacked specific information in Section 3.III “Purpose of Issuance” of Appendix 01. This omission included details about investment programs or projects, their legal status, and associated investment risks.
Additionally, Mirae Asset was fined VND 60 million for violating regulations on marginable securities, as the company provided margin funding for clients to purchase certain securities not listed as marginable at specific times. Another fine of VND 125 million was imposed for allowing clients to execute margin transactions exceeding their available purchasing power in their margin accounts.
The company also faced a VND 150 million penalty for submitting reports with inaccurate content, a VND 55 million fine for incomplete disclosures as per legal requirements, and a VND 60 million fine for failing to submit reports within the mandated deadlines.
In addition to the administrative fines, Mirae Asset is required to rectify the inaccurate reporting, as mandated by Clause 4, Article 43 of Decree 156/2020/NĐ-CP, amended by Clause 34, Article 1 of Decree 128/2021/NĐ-CP.
The total fines amount to VND 700 million.
Fines Up to 12 Million VND for Non-Compliance with Residence and Temporary Stay Regulations Starting December 15
A new decree outlining penalties for administrative violations in the areas of security, public order, social safety, prevention of social evils, and domestic violence prevention will take effect on December 15, 2025.
Administrative Penalties Imposed on Two Companies for Securities Violations
Becamex ITC and Lilama 45.4 have been slapped with administrative penalties for securities and stock market violations.
Pioneer Plastics Fined and Taxed Over 10 Billion VND
Pioneering Plastics has been slapped with a hefty administrative fine and tax arrears totaling over 10.2 billion VND due to inaccurate tax declarations.
Angimex Fined for Breaching Disclosure Regulations
Angimex has been fined VND 92.5 million by the State Securities Commission of Vietnam (SSC) for failing to disclose mandatory information as required by law.
Penalties Imposed on Multiple Companies for Bond-Related Violations
The State Securities Commission (SSC) Inspectorate has recently issued several administrative penalty decisions against businesses, with many violations related to bonds.
