The State Securities Commission canceled the decision to sanction Mr. Trinh Van Quyet

The content of the notice clearly states that, on April 5, 2022, the Committee Stock The State (SSC) issued Decision No. 188, annulling Decision No. 34, dated January 18, 2022 on sanctioning administrative violations against Mr. Trinh Van Quyet.

According to SSC, the reason for canceling the sanctioning decision number 34 was because the Criminal Investigation Agency of the Ministry of Public Security had issued a decision to prosecute a criminal case, prosecute the accused, and arrest Mr. Trinh Van Quyet on March 29.

The Police Department of the Ministry of Public Security has requested the SSC to cancel the decision No. 34 sanctioning administrative violations against Mr. Trinh Van Quyet. Previously, Mr. Trinh Van Quyet had complied with Decision No. 34 dated January 18, 2022 of SSC on sanctioning administrative violations in the field of securities and securities market.

With that decision, Mr. Quyet was fined 1.5 billion VND based on the provisions of Clause 3, Article 5, Point h, Clause 5, Article 33 of Decree 156/2020/ND-CP of the Government on penalties for violations. administration in the field of securities and the stock market.

This is the highest penalty for Mr. Quyet’s act of selling 74.8 million FLC shares on January 10 without reporting on the expected transaction, without disclosing information.