Tan Viet Securities has been fined VND745 million ($31,785) for multiple bond violations between 2021 and 2022.
Of the fine, VND300 million is for failing to fulfill the responsibility of a consulting organization in reviewing issuers’ compliance with regulations on corporate bonds.
Tan Viet was fined VND125 million for not keeping documents on the selection of bond investors, and VND100 million for not registering and depositing bonds on time.
Tan Viet was also fined VND150 million for exceeding the bond investment cap. From January to August last year, there were times when its investment in bonds exceeded 70% of its equity.
Tan Viet is among the securities companies with the largest bond trading volume.
It traded nearly VND179 trillion in bonds in the first nine months of last year, and investors traded VND181 trillion worth of bonds through the company during that period.
Tan Viet is one of the bond consultancies for An Dong Investment, a subsidiary of Van Thinh Phat, whose chairwoman Truong My Lan was arrested last year over suspected bond-market fraud.
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