SSC fines individual investor

Update: May, 19/2016 - 12:11

Viet Nam News –HÀ NỘI — The State Securities Committee (SSC) issued an administrative sanction against investor Trần Đức Minh for not declaring the change in his share-owning percentage on May 13.

Minh was fined VNĐ30 million for not reporting the change in the number of Northern Textiles and Garments JSC shares (TET) he owned on December 2 and December 24, 2015, which exceeded TET’s share transaction limit by one per cent. This also led to the increase in a related group’s owning percentage from 16.9 per cent to over 20 per cent and from 20 per cent to 22 per cent on the given dates.

Minh was also fined another VNĐ50 million for his failure to report to the SSC and the exchange the decrease in the ownership of Sông Đà Yaly Cement Joint Stock Company shares (SDY) on December 3, 2015, leading to a decline from 13.33 per cent to 0 per cent. — VNS