Company fined $37,000 for not disclosing stock market transactions
In this article (4)
Thai Son Investment Solutions Jsc has been fined VND870 million (US$37,100) for selling and buying back a stock in October last year without disclosing the information.
The State Securities Commission of Vietnam announced the fine recently and prohibited the company from trading on the stock market for three months starting May 19.
Thai Son surreptitiously sold 1.5 million shares of Electricity Investment Service Trade Jsc (EIN) on October 19, 2022, and bought 1.4 million shares three days later.
The SSC recently placed Tan Viet Securities under restrictions for four months for publishing its unaudited financial statements.
The company had been fined VND745 million in 2021 and 2022 for multiple stock market violations.
Questions & Answers
Q.What is the reason for Thai Son Investment Solutions Jsc being fined?
What is the reason for Thai Son Investment Solutions Jsc being fined?
Thai Son Investment Solutions Jsc was fined for selling and then buying back a stock in October last year without disclosing these transactions. Specifically, the company sold 1.5 million shares and bought 1.4 million shares shortly after.
Q.What additional penalty did Thai Son Investment Solutions Jsc receive?
What additional penalty did Thai Son Investment Solutions Jsc receive?
Beyond the fine, Thai Son Investment Solutions Jsc has been prohibited from trading on the stock market for a period of three months. This restriction began on May 19, following the announcement by the State Securities Commission.
Q.When did Thai Son Investment Solutions Jsc conduct the undisclosed transactions?
When did Thai Son Investment Solutions Jsc conduct the undisclosed transactions?
The undisclosed transactions occurred in October last year. Thai Son sold 1.5 million shares of Electricity Investment Service Trade Jsc on October 19, 2022, and then bought 1.4 million shares three days later.
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