The Inspectorate of the State Securities Commission (SSC) has just issued a series of decisions to sanction administrative violations in the field of securities and the stock market against a number of enterprises, including Thu Do Securities Joint Stock Company, General Supply and Fertilizer Joint Stock Company, and Vinh Long Food Joint Stock Company.
According to Decision No. 375 dated October 31, Thu Do Securities was fined VND 187.5 million for violating regulations on lending restrictions.
The Inspectorate of the State Securities Commission determined that at some times from December 26, 2023 to May 30, 2024, this company had lent money to a number of individuals through deposits for the purchase and sale of valuable documents. However, at the time of transfer, Thu Do Securities announced the cancellation of the contract and the individuals had to return the deposit according to the signed content.
This behavior was determined to be a violation of the regulations on lending restrictions under securities law, leading to the above administrative penalty decision.
Previously, on October 29, the State Inspectorate also issued Decision No. 371 to fine Hoa Sinh Chemical Fertilizer and General Fertilizer Joint Stock Company (Nhuan Duc Commune, Ho Chi Minh City) VND 92.5 million for not disclosing information according to the law.
This company did not publish a series of mandatory documents including: Audited financial statements for 2023-2024, annual reports for 2023-2024, reports on the company's governance situation in 2023-2024, company governance reports for the first 6 months of 2024-2025, meeting documents, minutes and resolutions of the General Meeting of Shareholders for the years 2024-2025.
Also on October 29, the State Securities Commission issued Decision No. 370 to fine Vinh Long Food Joint Stock Company ( stock code: VLF) with a total fine of 235 million VND.
Accordingly, the company was fined VND 92.5 million for not publishing information on the system of the State Securities Commission and the Hanoi Stock Exchange for a series of documents such as: Separate and consolidated financial statements for semi-annual review 20242025; audited financial statements for 20232024; financial statements for the first quarter of 2025; annual reports for 20232024; minutes and resolutions of the 2024-2025 Annual General Meeting of Shareholders; report on the company's governance situation in 2024.
The company was fined an additional VND 17.5 million for not developing and submitting to the General Meeting of Shareholders for approval internal regulations on corporate governance, operating regulations of the Board of Directors and the Supervisory Board; was warned for not issuing regulations on information disclosure according to the provisions of Decree 156/2020.
In addition, Vinh Long Food Food was also fined VND 125 million for not ensuring the minimum number of three members in the Control Board, violating the provisions of Decree 156/2020 amended and supplemented by Decree 128/2021 of the Government.
The total fine for this enterprise is up to 235 million VND.
