SSC fines individuals, organisations for violating securities activities

The State Securities Commission (SSC) has fined many individuals and organisations for administrative violations of illegal selling and securities manipulation.


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The State Securities Commission has administratively sanctioned two organisations and 10 individuals for violations involved in securities activities. — Photo Bnews

HÀ NỘI — Since early this year, the State Securities Commission (SSC) has fined individuals and organisations for administrative violations, including illegal trading and securities manipulation.

On January 19, the SSC sanctioned Nguyễn Thị Mỹ Hạnh (residing in An Khánh Ward, Thủ Đức City, HCM City) with an administrative fine of VNĐ1,014,160,000 (US$41,200) for not reporting large transactions beforehand.

Hạnh is the wife of Đặng Quang Hạnh, who is the Permanent Deputy Chairman of the Board of Directors of Tân Tạo Investment and Industry Joint Stock Company (stock code ITA).

Hạnh traded 5,795,200 shares (buying 1,104,700 ITA shares and selling 4,690,500 ITA shares) in June 2022 (corresponding to VNĐ57.9 billion at par value of ITA shares); selling 520,000 ITA shares (corresponding to VNĐ5.2 billion at par value of ITA shares) in July 2022; and selling 88,000 ITA shares (corresponding to VNĐ880 million at par value of ITA shares) in September 2022, but did not report these transactions before they occurred.

In addition to administrative sanctions, Hạnh is also suspended from securities trading activities for three and a half months.

The SSC also sanctioned administrative violations of 12 organisations and individuals that lent their accounts to Chairman of Louis Holdings Đỗ Thành Nhân to trade securities, leading to stock market manipulation for stock codes BII and TGG.

Specifically, 12 organisations and individuals were sanctioned, including Louis Holdings Joint Stock Company; The Golden Group Joint Stock Company (formerly known as Louis Capital Joint Stock Company) and 10 individuals: Hà Nguyễn Uyên, Huỳnh Nguyễn Hương Trà, Ngô Thị Hoài Thanh, Ngô Thị Hoài Thương, Nguyễn Thị Kiều Liên, Nguyễn Thị Minh Hiệp, Phan Thị Nga, Phan Thị Thanh Sen, Phan Thị Thương and Lê Quang Nhuận (all living in HCM City).

The SSC decided to apply preventive measures to prevent violations of laws on securities and the stock market for the 12 organisations and individuals. Accordingly, the 12 organisations and individuals are prohibited from trading securities for two years from January 19, 2024. They are also prohibited from holding positions at securities companies and securities investment fund management companies, branches of securities companies and foreign fund management companies in Việt Nam, and securities investment companies for two years from January 19, 2024.

Theo Vietnamnews