SmartInvest was fined 175 million dong

SMARTINVEST SECURITIES FINED 175 MILLION VND

On October 27, the SSC issued a decision to sanction administrative violations in the field of securities and the stock market against SmartInvest Securities JSC (formerly Hamico Securities JSC) 175 million VND for violating regulations on lending limits.

On October 27, 2015, the State Securities Commission (SSC) issued Decision No. 906/QD-XPVPHC on sanctioning administrative violations in the field of securities and the stock market against SmartInvest Securities Joint Stock Company (formerly Hamico Securities Joint Stock Company).

Accordingly, the company was fined 175 million VND in accordance with Point c, Clause 4, Article 21 of Decree No. 108/2013/ND-CP dated September 23, 2013, of the Government, which stipulates administrative penalties in the field of securities and the stock market, due to violating regulations on lending limits.

Explaining the issue, a company representative stated that due to the ownership transfer process, old outstanding issues were not resolved in time, leading to errors. SmartInvest Securities Company commits to complying with the provisions of the Law.

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