The Vietnam State Securities Commission published an investor warning about organisations and individuals on social media providing stock market analysis and buy, sell or hold recommendations without being licensed to provide securities investment advisory services. It also highlighted enforcement action against ITP Investment Joint Stock Company for conducting unlicensed investment advisory activity. The Commission noted that these online commentators are not securities companies or securities investment fund management companies, are not licensed by the Commission, and are not operating under the authorisation of licensed firms, while providing securities services without a licence is prohibited under Clause 4, Article 12 of the Securities Law. Based on supervisory findings and coordination with the Department of Cybersecurity and High-Tech Crime Prevention, it imposed an administrative sanction on ITP for posting stock analysis reports and recommendations on its website and applied market security and safety measures, including banning ITP from certain securities and securities market activities. The Commission advised investors to be cautious about unverified online information and said unlicensed analysis and recommendation activity will be handled strictly under the law.
Vietnam State Securities Commission 2026-04-17
Vietnam State Securities Commission warns on unlicensed online stock recommendations and sanctions ITP Investment Joint Stock Company
The Vietnam State Securities Commission warned investors about unlicensed securities investment advisory activity on social media, stressing such organisations and individuals are not authorised securities companies or fund managers under the Securities Law. It imposed administrative sanctions and activity bans on ITP Investment Joint Stock Company for publishing unlicensed stock analysis and recommendations online, and urged investors to be cautious about unverified information, stating that similar violations will be strictly handled under the law.