“Investors stay calm and should not panic”

Talking to the media, Mr. Tran Van Dung – Chairman of the State Securities Commission said that the management agency is currently coordinating with the investigation agency of the Ministry of Public Security to provide information upon request. In the immediate future, the Securities and Exchange Commission has requested relevant businesses to disclose unusual information so that investors and shareholders can grasp the information.

“Under the direction of the leadership of the Ministry of Finance, the State Securities Commission and functional units continue to handle issues related to this case. Accordingly, based on information and results from The police investigation agency, the State Securities Commission will carry out the work according to the order of competence and functions and duties. the provisions of the law, ensuring the fairness and transparency of the stock market” – Leaders of the State Securities Commission emphasized.

In the current context, the Chairman of the State Securities Commission recommends: “Investors should remain calm and should not panic. Vietnam’s stock market is still evaluated positively from macroeconomic fundamentals and good internal factors. Today, the General Statistics Office has announced that officially announced, macroeconomic data is still very positive and Vietnam is still highly appreciated by major international financial institutions for this year’s economic growth. But basically the State Bank still maintains monetary policy to support economic growth.In the internal market, the prospect of profit growth of enterprises is still positive, besides there are supporting factors. Other factors such as participating cash flow, upgrading expectations, equitization, capital divestment, etc.

“The guiding spirit of the Ministry of Finance is to uphold the law, strictly comply with the provisions of the law, where mistakes will be strictly handled, maintain discipline, discipline and transparency of the stock market. “ – Leaders of the Ministry of Finance emphasized.

As we reported on the afternoon of March 29, 2022, the Investigative Police Agency of the Ministry of Public Security (C01) conducted an investigation and verification against Mr. FLC Group (code: FLC), individuals of FLC Group Joint Stock Company, BOS Securities Joint Stock Company and related companies about the behavior of “Stock market manipulation”, “Concealing” information in securities activities” occurred on January 10, 2022, causing serious damage to investors, affecting the operation of Vietnam’s stock market.

The above behavior of Mr. Trinh Van Quyet has enough elements to constitute the crime of “Manipulating the stock market”, specified in Article 211 of the Penal Code.

Initially, on March 29, 2022, the Investigation Police Agency of the Ministry of Public Security issued the decision to prosecute the criminal case No. 06/QD-VPCQCSĐT, the decisions to prosecute the accused, the arrest warrant for the accused. with Trinh Van Quyet; at the same time, organize searches of residences and workplaces at 21 locations for related subjects.

The decisions and procedural orders of the Investigative Police Agency of the Ministry of Public Security have been approved by the Supreme People’s Procuracy (Case 3) in accordance with the law.

Previously, in the trading session of January 10, FLC set a record for liquidity when matching orders of approximately 135 million shares, a record high since listing. The session shook investors.

Right in the afternoon of January 10, 2022, (17:45 am), the State Securities Commission (UBCKNN) received Report No. 31/SGDHCM-GS dated January 10, 2022 of the Ho Chi Minh City Stock Exchange. Trinh Van Quyet, Chairman of the Board of Directors of FLC Group Joint Stock Company, traded 74.8 million shares of FLC Group Joint Stock Company (code: FLC, listed at Ho Chi Minh City Stock Exchange (HOSE) HOSE) but did not report or disclose information before performing transactions according to Clause 1, Article 33 of Circular No. 96/2020/TT-BTC dated November 16, 2020 of the Minister of Finance guiding the announcement of information. news on the stock market. The SSC is currently coordinating with relevant agencies to consider and handle Mr. Trinh Van Quyet’s violations according to regulations.

Right after that, the State Securities Commission issued a decision to freeze Mr. Trinh Van Quyet’s securities account, in order to prevent and prevent further acts that are not in accordance with regulations.

The State Securities Commission also directed HOSE to cancel the transaction of selling 74.8 million FLC shares on January 10 by Mr. Trinh Van Quyet, many investors were refunded their purchased money.

On January 18, the State Securities Commission issued a decision to administratively sanction Mr. Trinh Van Quyet 1.5 billion VND, the highest level according to regulations.

At the same time, the chairman of FLC Group was also subject to the additional sanction of suspending securities trading activities for 5 months.