Foreign bank fined for slow disclosure

Source: Pano feed

HA NOI (VNS) — Deutsche Bank AG, London Branch, was fined VND70 million (US$3,300) by the State Securities Commission for being late in reporting that it is no longer a large stakeholder in Tu Liem Urban Development (NTL) and Hoa Phat Group (HPG).


The fine was based on the Government’s Decree No 85/2010/ND-CP about administrative punishments in the securities sector.


In June, the bank sold shares of NTL and HPG, reducing its holdings to below 5 per cent.— VNS




Đăng ký: VietNam News