Circular 217/2013/tt-Btc: Guide Implementation Of Sanctioning Administrative Violations In The Field Of Securities And Stock Market

Original Language Title: Thông tư 217/2013/TT-BTC: Hướng dẫn thực hiện xử phạt vi phạm hành chính trong lĩnh vực chứng khoán và thị trường chứng khoán

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FINANCE MINISTRY
Number: 217 /2013/TT-BTC
THE SOCIALIST REPUBLIC OF VIETNAM.
Independence-Freedom-Happiness
Hanoi, December 31, 2013

IT ' S SMART

Guidelines for execution of administrative violation

in the stock sector and the stock market

_________________

The Securities Law Base on June 29, 2006 and the Amendment Law, added a number of provisions of the Securities Law on November 24, 2010;

The Administrative Administrative Processing Law on June 20, 2012;

Base of Protocol 81 /2013/NĐ-CP July 19, 2013 by the Government of the Government rules out certain things and measures the implementation of the Administrative Violation Disposal Law;

Base of Protocol 108 /2013/NĐ-CP September 23, 2013 of the Government rules sanctions sanctions in the field of securities and stock markets;

Base of Protocol 118 /2008/NĐ-CP November 27, 2008 the Government regulates the function, mandate, jurisdiction, and organizational structure of the Ministry of Finance;

On the recommendation of the Chairman of the State Securities Commission,

The Minister of Finance issued the Executive Guidance on the implementation of the administrative breach in the securities sector and the stock market.

Chapter I

GENERAL REGULATION

What? 1. Subject applies

1. Personally, the organization has administrative violations in the field of securities and stock markets.

2. Individuals, organizations are involved in the punishment of administrative violations in the field of securities and stock markets.

What? 2.

1. The period of administrative penalties for violations in the stock sector and the stock market is 2 years from the date of the termination of the violation of the administrative breach that has ended or since the date of the breach of the breach against the microscope. The administrative field is being done. The date of the execution of the administrative breach is the date of the record of the record of that administrative violation.

2. The identification of the sentence of punishment for some of the specific guided violation behavior is as follows:

a) For violations of the regulation of the order of the sale, the securities release at the points b, c and d Clap 3 Articles 4, Clap 4 and Clause 5 Articles 6, paragraph 2 Article 7 The number of Protocol 108 /2013/NĐ-CP September 23, 2013 of the Government rules the sanctions sanctions in the stock sector and the stock market (the following is called the Digital Protocol). 108 /2013/NĐ-CP), The date of the end of the breach to calculate the penalty time is the end of the purchase of the stock exchange. For violation of regulations at paragraph 2 Article 6 of the number of Protocol 108 /2013/NĐ-CP, The term of punishment is calculated since the date of the stock that has been on sale to the public that is included in the listing or registration of transactions for the breach ended or since the date of the publication of the copyright infringement on violations of the breach is being made;

b) For violations of the regulation of the public company registration records stipulated at Clap 1, Clause 2 and Point A 3 Article 9 Decree Numbers 108 /2013/NĐ-CP, The term of punishment is calculated from the date of the filing of the copyright infringement of the public company registration records;

c) For the report behavior, the publication of the information is not correct, unreported, unreported, published by the specified information or by request, the timing of the violation of the breach is made as the date of the end date of the end of the report must be made to report or work. the information on the scale or by the request;

d) In the statute of limitations on this Article 1 This individual, the organization deliberately avoids, obstructs the punishment, the statute of conduct of the administrative breach is recharged since the date of the end of the evasion act, which impedes punishment. The date of the avoidance of evasion, which impede the punishment of being a personal day, organizes the self-confidence breach of the newspaper and receives the form of administrative violation of the securities sector and the stock market. The person with authority on the right to compile a record of this statement, save a copy of the breach and deliver a copy to the individual, the breach.

What? 3. Penal penalty and remediation measure

1. The determination of the penalty level for the individual, the organization has a violation of the law in the field of securities and the stock market is specifically instructed as follows:

The specific penalty level for a violation behavior is the average level of the penalty frame that is prescribed for that behavior. The average level of the penalty frame is determined by dividing the total of the minimum penalty level and the maximum fine of the penalty frame.

2. The identification of the number of illegal benefits for administrative violation of the securities sector and the stock market by the State Securities Commission.

The State Securities Commission builds an illegal numerical method for administrative violations in the stock sector and the stock market in line with the specific situation and case.

3. The recall of securities has welcomed, issued, and reimbursable investors for purchasing securities regulation at Point A 3 Article 3 Decree No. 3. 108 /2013/NĐ-CP is done as follows:

a) For a period of 1 day of work, since the date of the decision being decided to punish the administrative, individual, violation of the breach must publish on 1 central newspapers in 3 consecutive numbers and on the company ' s electronic information page on the refund of the purchase. Stock or deposit (if any) add interest in the Bank's non-term deposit rate that the individual, the violation of an open-income tax account or deposit deposit. The interest of a stock exchange or a deposit, the violation of the investor must pay for the investor to be charged from the day the investor pays money to the date of the individual, the violation of the investment in return for the investor. The investor case transferred the stock exchange in a bid to be valid, personally, the responsible violation of investors who received the transfer prior to the time of the refund notice and the number of existing stock. is holding to inform that investor to be known;

b) Individuals, organized violations of the State Securities Commission report on the results of reimbursable investors, for a period of 3 working days from the completion date of the return to the investor.

Chapter II

CRIMINAL BEHAVIOR, PENALTY FORM AND PENALTY LEVEL.

What? 4. The violation of the regulations on the registration of registration lists; records of securities issued; records established membership funds; listed registration records, stock transactions; issued records, the addition of established and operational licenses; the registration records established the company. Individual securities investing self-management; the filing of a certificate of registration of representative office activity; registration of securities storage activity, registered operating branch

1. Regulation 3 Article 4, Clause 2 Article 5, Clause 3 Articles 7 and Point A 2 Article 8 Decree No. 108 /2013/NĐ-CP is applied in case of violation of the following information:

a) Information on business activity, property, financial situation of the organization released;

b) Information on the terms of the sale, release, of the release method and method of use of capital obtained from the sale, release;

c) Information, legal documentation relating to the use of capital for investment purposes, business, development of real estate projects;

d) Information on warranty of release;

Information about the unimplemented commitment of the organization whose stock is to be sold, issued; information on the dispute, the lawsuit relating to the organization whose stock is offered to sell, the release may affect the price of the stock offering sale, release;

e) Information on the parent company list, the subsidiary of the company's release, the company that the organization releases is holding the control or shares of the distribution, the company that holds control over the distribution rights or shares of the organization's distribution.

2. Regulation at paragraph 3 Article 14 and paragraph 4 Article 15 The number of Protocol 108 /2013/NĐ-CP is applied in case of violation of the following information:

a) Information on listing conditions, transaction registration conditions;

b) Information on business activity, property, financial situation of the listing organization, the registration of the transaction;

c) The information about the commitment to implement the obligations of the listing organization, the organization registration transaction for the investor;

d) The information about the commitment to the payment of payment or of the receipt of the valuation of the property guarantees and documentation of legitimate property rights, the insurance contract for those assets in the case of a guaranteed bond of bond;

Information on the fund's investment results report and investment securities firms have confirmed the oversight bank;

e) Information on the list of parent companies, the subsidiary of the listed organization, the transaction registration organization, the company that organizes the listing, the transaction registration organization is holding the control or share of the dominant, the company that holds control or shares of the cost. coordinating the listing organization, the transaction registration organization.

3. Regulation at paragraph 7 Article 20 Protocol 108 /2013/NĐ-CP is applied in case of violation of the following information:

a) Information on the terms of the establishment and operation of the securities company, the fund management company, the individual securities investment firm trust capital management, the securities company branch, or the foreign fund management company in Vietnam;

b) Information on business activity, property, financial situation of the organization proposed, supplematuation of permits.

4. Regulation 3 Article 23 Protocol 108 /2013/NĐ-CP is applied in case of violation of information on the license-establishment condition of the establishment and operation of the individual securities investment firm self-management.

5. Regulation at Point A 4 Article 24 Protocol 108 /2013/NĐ-CP is applied in case of violation of the following information:

a) Information on the certification of the registration certificate registration of representative office activities;

b) Information about the expected person to be appointed Head of the Representative Office.

6. Regulation at paragraph 4 Article 25 Protocol 108 /2013/NĐ-CP is applied in case of violation of the following information:

a) Information about the minimal contribution;

b) Information on the capital membership.

7. Regulation at paragraph 3 Article 30 Protocol 108 /2013/NĐ-CP is applied in case of violation of the following information:

a) Information on the basis of matter, engineering ensures the implementation of the securities storage operation;

b) Information on business activity, property, financial situation of the organization proposed issuing a certificate of registration of securities securities.

8. Behavior "Set up, confirm the registration record of the sale of the securities to the public with a forgery" at paragraph 3 Article 5 of the Digital Decree 108 /2013/NĐ-CP and the "Set, confirm false profile to list the securities or register of the stock exchange" at paragraph 4 Article 14 of the Digital Protocol. 108 /2013/NĐ-CP is the behavior of creating or confirming documents, information that is not real or not correct to register the sale of the securities to the public, register the listing or register the stock exchange.

When the procedure is detected at paragraph 3 Article 5, paragraph 4 Article 14 Protocol 108 /2013/NĐ-CP, The State Securities Commission, the Stock Exchange, has to compile a document filing of false records. In the case of a forgery that is a license, the State Securities Commission, the Stock Exchange must inform the agency for the licensing of the licenses.

What? 5. Violation of the regulation of the sale of securities to the public

1. Behavior "Use of external information or false information with information in the prospecticon to explore the market before being allowed to make a public exchange of securities" at the Point a 1 Article 6 of the Digital Protocol. 108 /2013/NĐ-CP is the use of information that is not included in the prospector or not accurate compared to the contents of the prospecticon in the filing of a public offering to visit the market before being allowed to make a public offering.

2. Regulation at paragraph 5 Article 6 Protocol 108 /2013/NĐ-CP is used in the event that the organization of the registry bid to sell the stock to the public offering a public offering when the State Securities Commission is looking at the registration record of the sale of the stock to the public. It's a public offering.

3. The level of charges applicable to the violation of regulation at paragraph 5 Article 6 Protocol 108 /2013/NĐ-CP is charged on the basis of a legal income from the execution of the breach. The legal collection is the amount of money between the total proceeds from the sale and the total value in the book value of the shares sold at the time of the sale. The case has imposed a maximum penalty of five times the legal income that the fine is still lower than the maximum penalty imposed on the public offering behaviour, but did not register with the State Securities Commission stipulated at Point 4. Article 6 Decree 108 /2013/NĐ-CP Then apply the maximum penalty to be specified at the Point of Section 4 Article 6 Decree. 108 /2013/NĐ-CP To be punished.

What? 6. Violation of the filing of a public company registration file

Regulation at point b 3 Article 9 Protocol 108 /2013/NĐ-CP is applied in the case of an infringement organization that has been instructed to modify the information that is not correct in the public company registration records but does not implement or execute it not as required by the State Securities Commission.

What? 7. Violation of the listing regulation, registration of securities trading

The additional form of sanctions "The suspension of securities listing or registration of securities trading" at paragraph 5 Article 14 Decree No. 1. 108 /2013/NĐ-CP apply to the established behavior, confirm the filing of a securities listing, registration of a stock exchange that has intentionally misinformed the truth, conceal the truth or a serious miserstor or behavior, confirm the false profile for listing, registration of the transaction. securities in the case of the Securities Exchange approved the listing, registering the stock exchange for the violation organization.

What? 8. Violation of the stock exchange market organization

1. Regulation 1 and paragraph 2 Article 16 Protocol 108 /2013/NĐ-CP is applicable to the event that organizes any one location or one form of information exchange to perform a purchase of the purchase order, sale, and stock exchange in addition to the Stock Exchange.

2. In the event of a legal payout, the amount of fines on the violation of the regulatory violation of the stock exchange market is calculated on the basis of all the revenues obtained from the execution of the breach. The case has imposed a maximum fine of 05 times the legal income that the fine is still lower than the prescribed maximum penalty rate at Clause 1 Article 16 of the number. 108 /2013/NĐ-CP Then you have the authority to punish the maximum penalty imposed at 1 Article 16 of the Census. 108 /2013/NĐ-CP To be punished.

What? 9. Violation of the regulation of the establishment and operation of securities

1. Behavior "Use the name or change of the name of the company, branch, representative office, non-correct transaction office" at Clause 1 Article 20 of the number of protocols. 108 /2013/NĐ-CP is the securities company, the fund management company, the securities investment firm, the securities company branch, or the foreign fund management company in Vietnam using the wrong name inscribed in the established and operational license, the approved paper. open branch, representative office or trading room.

2. "Practice of employment for customers and investors misunderstand the stock price" at Point A 3 Article 21 of the Digital Decree No. 1 108 /2013/NĐ-CP is that the securities company intentionally provides customers and investors with information, making those identification, counseling or advisable inaccuracy, incomplete, unsubstantiated, uncovering the truth about prices or factors that affect the price of one or more of them. The kind of securities that led to customers and investors misunderstood the stock price and made the wrong decision in the investment.

What? 10. Violation of the regulation of internal transactions and trading of stock market manipulation

1. The illegal gain is due to the implementation of the regulation violation in Clause 1 and Clause 3 Article 29 Digital Protocol 108 /2013/NĐ-CP is the benefit that arise from the implementation of an internal transaction or trading of the stock market, after subtracing the taxes, the fees to submit. Where a person uses multiple accounts for insider trading or exchange of stock market manipulation, the amount of illegal gains is calculated on the sum of accounts used for insider trading or trading of the stock market. In the case of a group of collusion, internal transaction structure or stock market manipulation transactions, the number of illegal benefits is calculated on each account used for insider trading or trading of the stock market.

2. When considering the amount of illegal gain for internal transaction behavior or exchange of stock market manipulation, if the value of the amount of illegal gain or the extent of the damage of the offence to the criminal liability level must be transferred to the public. The case for the agency to conduct criminal proceedings to consider the search for criminal liability pursuits to Article 62 of the Administrative Breach Laws.

Chapter III

JURISDICTION AND PROCEDURES FOR ADMINISTRATIVE VIOLATION

What? 11. Decline the trial jurisdiction

The case of the discovery of administrative violations in the stock and stock sector, the Chief Inspector of the State Securities Commission under the authority stipulated at Clause 1 Article 37 of the number. 108 /2013/NĐ-CP, Except for the case of administrative violations discovered through specialized inspection activities, the jurisdiction of the Chief Inspector of the State Securities Board.

What? 12. Deliver the sanctions, make the decision to coertify and apply the consequences remedy.

The chairman of the State Securities and Chief Inspector of the State Securities Commission can hand over the deputy to exercise the jurisdiction of the administrative violation and the enforcement of the enforcement of the decision to punish the administrative breach or the decision to apply austerity measures. The stock market and the stock market.

What? 13. Transfer of criminal records with signs of crime to pursue criminal responsibility

1. During the review of the breach to decide the administrative violation or in the case of a decision making the decision to punish the administrative breach, if the violation of the breach has a criminal sign, the guilty judge must transfer the case of the breach. I mean, we have a criminal prosecution for the agency.

In case of a violation of a criminal trial, if the breach is found to have a criminal record, without the end of the criminal trial, the person who has decided to punish the administrative breach must make a decision to suspend the execution. The decision to punish the administrative breach. For the 3-day period, since the day of the decision to suspend the execution only, the person who made the decision to punish the administrative breach must transfer the case of the breach to the agency to conduct criminal proceedings simultaneously with written information to the individual breach. Yeah.

2. The Agency conducts criminal proceedings for consideration, conclusion of the incident and answers the results of a written settlement to the competent person who has moved the case in the statute of limitations under the rule of criminal proceedings. The case does not prosecute the criminal case in the 3-day period, since the date of the decision not to prosecute the criminal case, the criminal proceedings must pay a criminal case to the person whose jurisdiction has moved the case.

3. The case of the body of conduct proceedings for the criminal prosecution of the decision to prosecute the criminal case, who has the jurisdiction to transfer the original case of the breach to the agency for criminal proceedings during the 05-day period, since the date received notice; the case has decided to punish the administrative breach, the decision of the decision to be punished must cancel the decision to punish the administrative breach.

What? 14. Transfer the incident to the competent authorities of the administrative violation.

1. The state governing body in the inspection process, which checks on individuals, organizes if the findings have administrative violations in the stock sector and the stock market but is not subject to its disposal jurisdiction it has to be transferred. the entire case file and document processing to the State Securities Commission to resolve.

Records include: Record of the Administrative Infringement Behavior (original), document, data, evidence related to administrative breach of the securities sector and the stock market collected during the inspection, inspection.

2. For the administrative breach of the securities sector and the stock market run by state regulatory agencies, the State Securities Commission is responsible for taking over the entire profile, documentation of that administrative violation and disposal of the securities, and the security of the government. as follows:

a) Case, document, evidence, evidence that is not sufficient to sanctiate the administrative breach, the verification of further circumstances as the basis of the decision to execute or proceed with inspection, examination of violation of violation;

b) The case of document records, which compile the administrative breach of the administrative breach to the correct procedure and to have sufficient evidence, concluded that the administrative breach of the administrative breach is to compile the administrative breach and the decision to punish under the rule of law.

What? 15. Set up the administrative breach and decision to punish the administrative violation.

1. The case of administrative violations is not subject to jurisdiction or beyond the jurisdiction of the compiler of the compiler, the editor must transfer the entire breach of the breach to the person with the jurisdiction over 2 days of work, since the date of the receipt. The administrative breach.

The breach profile includes:

a) The administrative breach (original);

b) The draft decision to punish the administrative breach;

c) The records, documents related to that breach behavior;

d) The confiscation of the funeral collection, the administrative violation media (if any);

All the necessary documents.

2. The administrative breach is required to fully record the prescribed content at paragraph 2 Article 58 The administrative breach of the administrative breach. For the unknown case the exact location of the violation occurred, the location of the breach was given to the breach. In the case of the breach, the violation of the violation was not present at the site of the breach or attempted to evade or refuse to sign the receipt, the editor must record the reason for the receipt, collect evidence of violation, decision to sentence or transfer records. A violation of entitable authority.

3. The case of violation of violations has been edited but has not yet to decide the sanctions that the individual, the organization does not carry out the request, concluded, the decision of the Chief Inspector of the State Securities Commission or the Chief Inspector of the Committee of the Evidence Committee. State Security, still deliberately doing that violation, then Chief Inspector of the State Securities Commission, Chairman of the State Securities Board must report that the Chairman of the State Securities Commission applied the containment measure to be temporary. hold permits, certificate of practice in the field of securities and stock markets under the regulatory procedure prescribed at Article 125 and Article 125. 126 Administrative breach laws to ensure violation of the breach must be terminated. For this case, when a decision is made to punish the administrative breach, it is possible to apply further increased circumstances of regulation at the point of Article 1 Article 10 Laws that handle administrative or trial violations against the conduct do not implement the request, conclusion, decision of the order. The inspection is prescribed at the point of Section 1 Article 36 The number of numbers. 108 /2013/NĐ-CP In the case of the Chief Inspector General of the Service.

4. The sanctions decision must be due to the Chairman of the State Securities Commission or the Chief Inspector of the State Securities Commission or the Chief Inspector of the State Securities Commission, and stamp the State Securities Commission body.

What? 16. The announcement of the decision to punish the administrative violation

1. In a period of 3 working days, since the date of the decision to punish the administrative breach in the securities sector and the stock market, the sanctions decision must be published on the electronic information page of the State Securities Commission. Where the subject is a transaction member, the listing organization, the stock exchange registration organization, the sanctions decision must be published simultaneously on the Stock Exchange of the Stock Exchange.

2. Public information content: they, names, addresses, professions of violins or names, the address of the infringement organization, the behavior of administrative violations, the form of punishment, the remediation of the consequences.

Chapter IV

FORCED TO EXECUTE JUDGMENT

ADMINISTRATIVE BREACH IN THE FIELD OF SECURITIES

AND THE STOCK MARKET.

What? 17. The authority decided to resist

1. Chief Inspector of the State Securities Commission decided to resist and organize the enforcement of the decision to punish the administrative breach, deciding to apply the remediation of the consequences.

2. The chairman of the State Securities Commission has the authority to make the decision to coerve and organize the enforcement of coercism in the following cases:

a) the decision to punish the administrative breach, the decision to apply the measure of the remediation of the consequences;

b) The decision to punish the administrative breach, the decision to apply the remediation measure led by the Chief Inspector of the State Securities Commission but is not eligible for the force, the means to hold enforcement of the coercve decision and have the proposed text. The Chairman of the State Securities Commission decided to be forced;

c) The decision to punish the administrative breach, the decision to apply the remediation measure by the Chief Inspector General of the State Securities Commission.

What? 18. coercible measures

1. The enforcement measures enforce the decision to punish the administrative breach in the field of securities and the stock market including:

a) Except for a portion of the wages or part of the income; deductible money from the account at the bank;

b) The asset receipt has a value corresponding to the amount of the fine to sell the auction; the receipt of securities with the value corresponding to the amount of fines;

c) Collection, property of the coercive-coercive object, other organizations are holding in the case of a personal, organization after the breach of an attempt to escape the property;

d) Apply the other coercove measures to force the implementation of the prescribed consequences in paragraph 3 Article 3 of the numerical decree. 108 /2013/NĐ-CP.

2. In the case of individual, the organization must enforce the forced decision to submit to the illegal benefits of being due to the execution of an individual's administrative violation, the coercated organization has not yet been implemented, and the person with the authority to decide whether to enforce it. use one of the measures outlined at the points a, b and c 1 This Article.

Chapter V.

THE ORGANIZATION.

What? 19.

1. This information is valid for enforcement from March 1, 2014 and replaces the Digital Digital. 37 /2011/TT-BTC March 16, 2011 by the Ministry of Finance directed to enforce certain provisions of the Digital Protocol. 85 /2010/NĐ-CP August 2, 2010 The government is about sanctions on securities and stock markets.

2. The chairman of the State Securities Commission is responsible for organizing and directing the punishment of administrative violations in the securities sector and the stock market guarantees the correct regulation of the law.

3. In the course of execution, if there is difficulty, the offer is timely reflection of the Ministry of Finance for review, ./.

KT. MINISTER.
Chief.

(signed)

Chen Xuân