Several securities stocks hit the ceiling due to the strong increase in demand and high buying prices after the information that the securities settlement cycle T+2 (shortened by one day compared to the current settlement cycle) will be applied in August.
There is evidently a high risk in corporate bonds after the State Securities Commission (SSC) canceled nine individual corporate bond offerings valued at VND10.03 trillion belonging to three subsidiaries of the Tan Hoang Minh Group.
Regarding the incident in which nine private bond offerings of the group of companies under Tan Hoang Minh Group were canceled by the State Securities Commission (SSC), some related banks and securities companies have simultaneously informed about it.
The State Securities Commission (SSC), on April 4, informed that it had canceled bond issuances of Viet Star Company, Winter Palace Company, and Soleil Company under Tan Hoang Minh Group due to acts of disclosing false information and concealing information when issuing private bonds.
Deputy Prime Minister Le Minh Khai, on behalf of PM Pham Minh Chinh, has directed the implementation of measures to ensure the stock market operates in a stable, safe, smooth, public, and transparent manner and develops sustainably.
The Investigation Police Agency under the Ministry of Public Security (C01) has recently prosecuted Trinh Van Quyet, Chairman of the Board of Directors of FLC Group, to investigate the act of stock market manipulation.
After the Ministry of Public Security issued a decision to prosecute Mr. Trinh Van Quyet, Chairman of the Board of Directors (BOD) of FLC Group on March 29, to limit any risks that may arise and ensure the regular operation of the group, Mr. Trinh Van Quyet authorized Ms. Vu Dang Hai Yen, Deputy General Director of FLC Group, to replace his position in the group.
The Investigation Police Agency of the Ministry of Public Security (C01), on March 29, issued a decision to investigate the criminal case, decisions to prosecute the accused, and an arrest warrant for Trinh Van Quyet, Chairman of FLC Group. At the same time, police have searched the residences and workplaces of related subjects at 21 places.
Deputy Finance Minister Nguyen Duc Chi said that in 2022, Vietnam's stock market would continue to promote and actively integrate into the world market, becoming one of the four major markets in the ASEAN region.
Lieutenant General To An Xo, Chief of Staff cum Spokesperson of the Ministry of Public Security, on January 24, informed that the Police Investigation Agency of the Ministry of Public Security issued a decision to prosecute a criminal case, a decision to prosecute the accused, a search warrant, and an arrest warrant for temporary detention against Nguyen Van Nam, former Director of ASA Joint Stock Company, for the crime of "obtaining property by deception", as specified in Article No.174 of the Criminal Code 2015, amended and supplemented in 2017.
The State Securities Commission of Vietnam (SSC), on January 18, informed that it fined Mr. Trinh Van Quyet, Chairman of the Board of Directors of FLC Group, VND1.5 billion (US$66,000) for selling 74.8 million FLC shares without reporting it. At the same time, he is suspended from securities trading activities for five months.
A leader of the State Securities Commission of Vietnam (SSC), on January 12, said that directing the Ho Chi Minh City Stock Exchange (HoSE) to cancel the sale of 74.8 million FLC shares by Mr. Trinh Van Quyet, Chairman of the Board of Directors of FLC, for not reporting and disclosing information before performing the transaction was an unprecedented measure on the Vietnamese stock market.
The Ho Chi Minh City Stock Exchange (HoSE), on the evening of January 11, informed that it had canceled the sale of 74.8 million shares of Mr. Trinh Van Quyet, Chairman of FLC Group conducted on January 10, following the direction of the State Securities Commission of Vietnam (SSC) in Dispatch No.198/UBCK-TT dated on January 11, 2022.
In the first two quarters of 2021, real estate companies are the winners of corporate bond issuance, with an issuance value of up to VND92.3 billion and an average interest rate of 10.36 percent per annum. In the context that interest rates on bank deposits stand at an extremely low level, corporate bonds remain attractive, especially for individual investors. On the other hand, many investors have been circumventing regulations over the past time.
Currently, VN-Index has declined by about 12 percent from the peak of 1,420 points on July 2. However, experts assessed the fluctuations of the stock market in July this year to be short-term. The stock market still has many development opportunities in the long term, continuing to affirm its role as an important capital mobilization channel.