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Banking & Finance

SSC fines stock traders

Released at: 14:30, 13/05/2016

SSC fines stock traders

Attempts to manipulate stock prices dealt with by State Securities Commission.

by Hung Nguyen

The State Securities Commission (SSC) has announced a decision issuing fines totaling VND550 million ($24,645) to certain stock market investors.

Ms. Bui Thi Ngoc Yen from Pleiku, in the central highlands province of Gia Lai, is charged with having tried to manipulate stocks. From July to September 2015 she used nine difference accounts to trade the stock VID on the Ho Chi Minh City Stock Exchange with the purpose of price manipulation.

The Vietnam International Securities Company (VIS), meanwhile, is to be fined VND125 million ($5,600) for permitting customers to conduct margin trading without reporting to the SSC.

Mr. Duong Quang Chau from the Ho Chi Minh City Infrastructure Investment (CII) is being fined VND42 million ($1,88o) by the SSC after trading in CII’s stock without reporting to the SSC.

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