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FLC fined almost half a billion dong

The State Securities Commission (SSC) on the afternoon of March 24 fined the FLC Group 495 million dong for violations in the securities sector, the entire amount has been paid in full.

Most of the FLC violations are related to information disclosure on the SSC system and the Ho Chi Minh City Stock Exchange (HoSE).

In particular, the company was fined 200 million for disclosing false information about its audited financial statements for 2020, semester 2021 and corporate governance reports.

FLC is also unable to publish timely 2019 semi-annual financial reports and resignation reports of members of the Board of Directors, employee appointment decisions and equity participation. FLC’s financial statements also explain the lack of transactions and balances with related companies such as HAI Agricultural and Pharmaceutical, FLC Stone…

In addition, FLC was fined for not having an independent member of the Board of Directors as specified. The fine for this violation is 125 million VND.

In January, a company linked to FLC, FLC Homes, was also fined VND 145 million for publishing false and untimely information.


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