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HA NOI (Biz Hub) — The State Securities Commission (SSC), on July 30, penalised two companies and one individual for administrative violations in securities trading in the local market.
The Van Xuan Telecommunications Joint Stock Company (VATEL) was fined VND50 million (US$2,380) for not disclosing its information on time on the Ha Noi Stock Exchange. SSC said the information included the revised contents in the company certificate of business registration, other financial statements and annual reports in 2012 and 2013.
In addition, the Saigon - Song Lam Beer Joint Stock Company was fined VND40 million ($1,904) for their administrative violation in registration procedures.
SSC also imposed a VND 42.5 million($2,023) fine on Nguyen Van Dung, a shareholder of Hoang Anh Gia Lai (HAG) because he sold 162,900 shares of HAG from March 19th to 26th, 2014, before reporting it to the SSC.
In July, SSC fined securities violators nearly VND600 million ($28,000). — VNS