Cancellation of a fine of VND 1.5 billion for Mr. Trinh Van Quyet

State Securities Committee has just issued Decision No. 188/QD-HB rescinding Decision No. 34 dated January 18 of the State Securities Commission on sanctioning administrative violations against Mr. Trinh Van Quyet.

The reason for the cancellation of Decision 34, explained by the State Securities Commission, is that on March 29, the Investigative Police Agency – the Ministry of Public Security issued a decision to prosecute a criminal case, a decision to prosecute The accused, Order to arrest the accused for temporary detention for Mr. Trinh Van Quyet.

The Investigation Police Agency – Ministry of Public Security has written to request the State Securities Commission to cancel Decision No. 34 dated January 18 on sanctioning administrative violations against Mr. Trinh Van Quyet based on Article 4. Criminal Code 2015; Article 5, Article 168 of the 2015 Criminal Procedure Code, Clause 3, Article 62 of the Law on Handling of Administrative Violations; Point g, Clause 1, Article 13 of Decree No. 118/2021/ND-CP dated December 23, 2021 of the Government detailing a number of articles and measures to implement the Law on Handling of Administrative Violations.

Previously, on January 18, the State Securities Commission issued a Decision on sanctioning administrative violations in the field of securities and the securities market for Mr. Trinh Van Quyet.

Accordingly, Mr. Trinh Van Quyet was fined 1.5 billion VND. Chairman of the Board of Directors of Joint Stock Company FLC Group was fined for having committed an administrative violation of not reporting the expected transaction. Specifically, Mr. Trinh Van Quyet sold 74.8 million FLC shares on January 10 but did not report on the expected transaction.

In addition, Mr. Trinh Van Quyet was also subject to the additional sanction of suspending securities trading activities for 5 months.

* Invite readers to watch the programs broadcast by Vietnam Television on TV Online and VTVGo!