ANTD.VN - Investing on behalf of clients, the former Investment Consulting Director of VPS Securities was administratively fined and had his license revoked for 9 months. VPS Securities Company was also handled in connection with the incident.
The State Securities Commission (SSC) has just issued a decision to sanction administrative violations in the field of securities and the securities market against Mr. Do Anh Viet (Address: No. 4, Ba Trieu Alley, Le Dai Hanh, Hai Ba Trung, Hanoi ).
Mr. Do Viet Anh's administrative violation is investing on behalf of customers. Specifically, Mr. Do Anh Viet is a securities practitioner.
During his time working at VPS Securities Joint Stock Company, on November 12, 2021, Mr. Do Anh Viet signed a Securities Investment Cooperation Contract with Mr. Nguyen Duc Cay, accordingly, Mr. Do Anh Viet made investments on behalf of the customer (Mr. Nguyen Duc Cay).
This behavior does not fall under the case of entrusting the management of securities trading accounts of individual investors as prescribed in Clause 3, Article 4 and Article 19 of Circular 121/2020/TT-BTC dated December 31, 2020 of the Minister of Finance regulating the activities of securities companies.
 |
VPS Securities and Mr. Do Anh Viet were fined for violations in the securities field. |
For the above violation, Mr. Do Anh Viet was fined VND 87.5 million. In addition, this individual was also subject to an additional penalty of having his practice certificate revoked for 09 months as prescribed in Point b, Clause 7, Article 32 of Decree 156/2020/ND-CP, amended and supplemented at Point b, Clause 26, Article 1 of Decree 128/2021/ND-CP.
“Mr. Do Anh Viet must immediately stop all professional activities recorded in his securities practice certificate, from the effective date of the penalty decision and must comply with the prohibitions or restrictions during the period of revocation of the right to use the practice certificate, according to the provisions of Article 50a of Decree 156/2020/ND-CP amended and supplemented in Clause 41, Article 1 of Decree 128/2021/ND-CP” - the State Securities Commission stated.
It is known that Mr. Do Anh Viet used to hold the position of Investment Consulting Director at VPS Securities.
Concurrently with the above decision, the State Securities Commission also issued a decision to impose administrative sanctions on VPS Securities Joint Stock Company (Head office address: Office area No. 65 Cam Hoi Street, Dong Mac Ward, Hai Ba Trung District, Hanoi).
Accordingly, VPS Securities was fined VND 85 million for the following violations: Failure to monitor and prevent conflicts of interest within the company, between securities practitioners and customers.
Source link
Comment (0)