Vietnam Releases List of Illegal Stock Sellers

Oct. 27 – Vietnam's State Securities Commission (SSC) has released a list of companies selling stocks that do not meet basic regulations.

Some companies were foud guilty of selling shares violating the Law on Securities.
The Law on Securities stipulates that companies with charter capital under VND10 billion (US$606,000) are not qualified to sell securities.

The SSC has already sent the list of the violating companies to the Ministry of Planning and Investment, provincial and municipal People’s Committees, and the Department of Planning and Investment.

The SSC also advises that shareholders of the violating companies should ensure their interests under the rules of the Enterprise Law.

“The enterprises must bear full responsibility for issuing securities illegally as well as any complaints of shareholders involved,” the SSC said, reports the Vietnam News Agency.

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