HCMC – Many corporate bond issuers and securities companies have been fined for late information disclosure, violations in providing consulting services for private placement and depository services and trading private bonds without underwriting.
Le Cong Dien, director of the Public Company Supervision Department at the State Securities Commission (SSC), said authorities have carried out 30 inspections of corporate bond issues and transactions since October 2021.
Speaking at a press conference held on September 19 to introduce Government Decree 65/2022/ND-CP amending and supplementing Decree 153/2020, Dien said that among the 21 securities companies, six violated rules on provision of consulting services for private placement and depository services and trading private bonds without underwriting.
Meanwhile, some companies failed to ensure information accuracy in the private placement files and to timely disclose information.
The SSC has sent the Investigation Agency under the Ministry of Public Security documents involving five securities companies in connection with the Tan Hoang Minh Group case.
The findings also showed eight out of nine bond issuers breached regulations. Of them, two offered bonds to the public without prior approval from the SSC.
The SSC fined them VND600 million each, revoked the bonds and forced them to make refunds to buyers at their request.
The other six companies were fined for late information disclosure.