Inspect and punish companies that fail to provide information

DNHN - State Securities said that this agency and the stock exchanges would intensify the examination, monitoring, and inspection of infractions and rigorously enforce the law.

The State Securities Commission (SSC) has recently issued a written request to public corporations, securities firms, securities investment fund management companies, and securities issuers to comply with reporting requirements. reporting and disseminating stock market information.

In particular, the Law on Securities, Decree No. 155/2020/ND-CP, Circular No. 96/2020/TT-BTC, and other rules about information disclosure and reporting on the stock market must be strictly followed by public companies, securities companies, securities investment fund management companies, and organizations and people who share information on the stock market.

In addition, securities issuers, consulting organizations, registration and depository organizations, bidding organizations, underwriters, and issuance agents rigorously adhere to information disclosure and reporting rules; report in accordance with the terms of Decree No. 153/2020/ND-CP and associated regulations.

A number of new criteria under Circular No. 96 include: public enterprises must provide information as soon as one of the company's banks detects an indication of fraud or violation of the law in relation to the company's bank accounts.

A public corporation must publish information as soon as it gets a resignation letter from an insider (for example, a member of the Board of Directors, general director, or chief accountant).

Circular 96 lists more times when information must be given quickly to securities companies, securities investment fund management companies, public funds, and public securities investment companies.

In recent years, errors in information sharing have been fairly widespread, and the SSC must regularly "blow the whistle." Accordingly, the SSC underlined that this agency and the stock exchanges would improve review, oversight, and inspection, as well as severely enforce compliance with the law.

Lam Ha