New regulations on sanctioning administrative violations in securities and securities market
05:08 28/08/2010
On 02 August 2010, the Government issued Decree No. 85/2010/ND-CP on sanctioning administrative violations in securities and securities market, replacing Decree No. 36/2007/ND-CP. Decree 85 aims to resolve difficulties in sanctioning administrative violations in securities and securities market. It also adds new violation activities discovered during the operation and development of the securities market and increase penalty levels to almost all of violation acts.
Pursuant to the new regulations, the maximum monetary penalty is increased from 70 million VND to 500 million VND. In addition, additional penalty measures will be applied to violators such as confiscation or fined up to 5 times of the illegal income gained from the violation activities, or suspended its business operations.
Decree 85 shall take effect from 20 September 2010./.
by Lawyers of Bizconsult Law Firm