SSIAM fined for administrative violations

The a total fine is VNĐ165 million.

The headquarter of SSI Securities Corporation in Ngô Quyền Street, Hà Nội. — Photo tinnhanhchungkhoan.vn

The State Securities Commission of Việt Nam (SSC) has issued a decision to sanction administrative violations against SSI Asset Management Company Limited (SSIAM).

SSIAM was administratively fined VNĐ125 million (US$5,087) for violating regulations on restrictions on the operations of securities investment fund management companies, related persons of the securities investment fund management, and employees working at the securities investment fund management company.

​​Specifically, from September to December 2022, the securities transactions of some employees were not fully reported to the internal control department before and after trading.

It was also fined VNĐ40 million for arranging for workers and securities professionals to hold concurrent roles.

The company arranged for its employees to fulfill the role of investment consultants and council members to sign and approve investments in trust investment portfolios and investment funds.

As a result, SSIAM is fined a total of VNĐ165 million. — VNS

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