The Vietnam State Securities Commission has outlined draft amendments to administrative sanctions for securities and securities market violations. The proposal would align the sanctions regime with the comprehensive 2026 framework for privately placed corporate bonds, update enforcement powers and strengthen the treatment of margin trading breaches, further revising the framework amended in 2025. Late bond registration or trading registration would attract fines of VND 10 million to VND 100 million, depending on the delay, while forged documents or false certification in registration files would carry fines of VND 1 billion to VND 1.5 billion. Disclosure, reporting and notification breaches would be subject to fines of VND 50 million to VND 200 million, with correction required for inaccurate information. The draft would also distinguish the responsibilities and sanctions of different service providers, establish violations relating to investor responsibilities and impose higher penalties and service suspensions for repeated margin trading breaches. The proposal would update the sanctioning powers of central and provincial inspection officials. Transitional provisions would apply the law in force when an offense occurred, including where a completed or decided case remains subject to a complaint or legal challenge.
Vietnam State Securities Commission proposes private corporate bond sanctions with fines up to VND 1.5 billion
The Vietnam State Securities Commission has proposed updated sanctions for privately placed corporate bonds, including fines of up to VND 1.5 billion for forged registration documents. The draft also sets graduated penalties for registration and disclosure breaches and strengthens sanctions for repeated margin trading violations. It would align enforcement powers with the broader 2026 regulatory framework.