(TBTCO) – The State Securities Commission (SSC) has just issued a number of decisions to sanction administrative violations in the field of securities and stock market against two businesses for violating regulations related to information disclosure.
Specifically, the State Securities Commission Inspectorate issued Decision No. 386/QD-XPHC on sanctioning administrative violations in the field of securities and stock market for Hung Vuong Developer Joint Stock Company.
Accordingly, Hung Vuong Developer Joint Stock Company was fined 92.5 million VND for non-disclosure of information that must be disclosed according to legal regulations. The company does not disclose information for the 2022 periodic report on the use of proceeds from bond issuance for the 2021 bond issuance (value of 600 billion VND) audited by qualified auditing organization.
At the same time, disclosing information on time documents: Information disclosure before the bond offering, 2021 Financial Report, Report on the use of capital from the 2021 bond issuance, Report Financial report for 6 months of 2022.
Meanwhile, Danh Viet Trading and Services Joint Stock Company was also fined 92.5 million VND by the State Securities Commission for not disclosing information that must be disclosed according to legal regulations.
Specifically, the company did not disclose according to legal regulations the 2022 periodic report on the use of proceeds from bond issuance for 2 bond issuances (valued at VND 1,500 billion). and 44.2 billion VND) audited by a qualified auditing organization.
In addition, the company did not disclose information on time for the following documents: Audited 2021 financial statements, report on the use of capital from bond issuance in 6 months of 2022; Report on the payment of interest and principal of bonds in 2022 (for the August 2020 bond issuance worth VND 1,500 billion); Report on bond offering results; Report on the payment of interest and principal of bonds in 2022 (for the October 2022 bond issuance worth 44.2 billion VND)./.