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Hoa Phat was fined 125 million VND for violations in the securities field

On May 16, 2022, the State Securities Commission (UBCKNN) announced the Decision No. 244/QD-XPHC on sanctioning of administrative violations in the field of securities and securities market for joint-stock companies part of Hoa Phat Group on May 11, 2022.

Specifically, this group was fined 125 million VND according to the provisions of Point a, Clause 6, Article 15 of Decree No. 156/2020/ND-CP dated December 31, 2020 of the Government on sanctioning of administrative violations in the field of law. securities and securities market (Decree No. 156/2020/ND-CP) as amended and supplemented according to the provisions of Clause 13, Article 1 of Decree No. 128/2021/ND-CP dated December 30, 2021 of the Government amending and supplementing a number of articles of Decree No. 156/2020/ND-CP.

Accordingly, Hoa Phat violated in not ensuring the structure and number of independent members of the Board of Directors. This group currently does not have an independent member of the Board of Directors as prescribed in Clause 4, Article 276 of Decree No. 155/2020/ND-CP dated December 31, 2020 detailing the implementation of a number of articles of the Securities Law. stock.

By the end of the first quarter of 2022, Hoa Phat’s Board of Directors had a total of 7 members. In which the chairman is Mr. Tran Dinh Long, 3 vice presidents are Mr. Tran Tuan Duong, Mr. Nguyen Manh Tuan and Mr. Doan Gia Cuong, 2 members are Mr. Hoang Quang Viet and Mr. Nguyen Viet Thang. One year ago, the group’s Board of Directors had a larger number of members with the presence of Mr. Ta Tuan Quang and Mr. Han Christian Jacobsen. However, these two individuals have left the hot seat since February 22, 2021.

On May 24, Hoa Phat will hold its annual general meeting of shareholders and it is not excluded that the group will elect new independent members of the Board of Directors at this annual meeting.

https://cafebiz.vn/hoa-phat-bi-phat-125-trieu-dong-vi-vi-pham-trong-linh-vuc-chung-khoan-20220516171307895.chn


Moc An

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