Decree 161/2004/nd-Cp: About Sanctioning Administrative Violations In The Field Of Securities And Stock Market

Original Language Title: Nghị định 161/2004/NĐ-CP: Về xử phạt vi phạm hành chính trong lĩnh vực chứng khoán và thị trường chứng khoán

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Decree on sanctioning administrative violations in the field of securities and the stock market _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ the GOVERNMENT pursuant to the law on organization of the Government of 25 December 2001;
Legal bases of administrative violation processing command no. 44/2002/PL-UBTVQH10 on 02 July 2002;
According to the recommendation of the Minister of finance DECREE: chapter I GENERAL PROVISIONS article 1. Scope 1. This Decree provisions on sanctioning administrative violations in the field of securities and stock market, sanctions, remedial measures, the level of the fine, the authority and sanction sanction procedures.
2. Administrative violations in the field of securities and stock market regulations in this Decree include: a) infringe regulations on securities issuance activities to the public;
b) infringe regulations on securities listed on the stock exchange centre, stock exchange;
c) infringe regulations on securities trading activities;
d) infringe regulations on business activities, registration, securities depository, clearing and payment for securities transactions;
DD) infringe regulations on reporting, disclosure of information;
e) violates the rules do hinder the inspection, test or do not implement recommendations of Ombudsman institutions, check.
Article 2. Application object 1. Individuals, agencies, domestic and foreign organizations (hereinafter referred to as individuals, institutions) have administrative violations in the field of securities and the stock market are all sanctioned administrative offense under the provisions of this Decree, except in the case of international treaties to which Vietnam signed or joined otherwise.
2. The organization sanctioned administrative offense of all violations of his administration. After the executor decides to sanction the organization sanctioned, determine the individual at fault causing the breach to determine administrative liability and the financial obligations of that person in accordance with the law.
Article 3. The principle of sanctioning administrative violations the principle of sanctioning administrative violations in the field of securities and the stock market are made according to the provisions of article 3 of the Ordinance on handling administrative violations.
Article 4. Time sanctioning administrative violations 1. Time sanctioning administrative violations in the field of securities and the stock market is 10 years from the date of the administrative offense was made. If the above deadlines are not sanctioned but can be apply remedial measures prescribed in paragraph 3 article 7 of this Decree.
2. for individual violations of the law on securities and the stock market that prosecution, prosecution or have decided to take the case to trial under criminal proceedings, but later decided to suspend the investigation or the suspension of the case, if there are administrative violations, the sanctioned administrative offense under the provisions of the Decree This time. Within 3 working days from the date of the decision to suspend the investigation, the suspension of the case, the decision suspended must submit the decision for the authority sanctioning administrative violations. In this case, time sanctioning administrative violations is 3 months from the date of authority sanctioning administrative violations get decided to suspend and records violations.
3. Within the time limit defined in clause 1 and clause 2 of this, personally, held back the implementation of the new violations in the field of securities and stock market or willfully evading, obstructing the sanctions do not apply time limits prescribed in clause 1 and clause 2 of this Thing. Time sanctioning administrative violations are calculated from the moment made the new violation or termination acts impedes evading sanctions.
Article 5. The time limit is considered to be not yet sanctioned personal administrative violations, the organization sanctioned administrative offense, if after 1 year from the day the accomplished executive sanction decision or from the date of execution without sanction decision it shall be regarded as not yet sanctioned administrative offense.
Article 6. Extenuating circumstances, aggravation when conducting sanctioning administrative violations in the field of securities and stock market, only the following details are considered extenuating and aggravating: 1. The extenuating circumstances: a) the administrative violations have prevented, reduced the damage of violations caused or voluntary remedial , compensation for damage;
b administrative infringement) people have voluntarily declare, honestly admitted mistake;
c) violated by forcing or being physically or mentally;
d) violation due to lack of understanding;
DD) violation due to violation of others.
2. The aggravating a) organised violations;
b) violated several times or re-offending in the same areas of securities and stock market;
c) forcing people were subject to mental or physical violation;
d) taking advantage of position and powers to violate;
DD) violation in time are Executive decides to treat administrative violations;
e) continue to implement administrative violations although the authority requesting the termination of the Act;
g) after violating behavior escape, concealed violations.
Article 7. The sanctions administrative violations and remedial measures

1. for each administrative violations in the field of securities and stock market, individuals, organizations suffer a breach in two main sanctions: a) caution;
b) fine.
2. Depending on the nature and extent of the violation, individual, organization, administrative violations can also be applied to one or more additional sanctions: a) confiscating the entire proceeds from the realization of the violations that have stock and used for administrative violations;
b) Duke has no time limit or time limit the right to use the registered certificate issued securities to the public; the license listed securities, securities business license; securities license, license management, professional stock trading, professional fund managers. Within the time limit was stripped of the right to use the license and certificates of practice, organization, individuals conducting business activities stated in the licence, the certificate of practice.
3. In addition to the sanctions provided for in paragraph 1, 2 of this, personally, held in violation can also be applied to one of the following remedial measures: a) Compel observance of the provisions of the law for administrative violations;
b) Forced cancellation, dispute the false information, not true;
c) Compel the issuer to recover the securities issued, a refund the deposit or money to buy stocks for the investment in the time limit of 30 days, from the date of being deprived of the right to use the registered certificate issued.
The additional sanctions and remedial measures prescribed in clause 2, 3 this applies only in the case in order to handle the violation, eliminate the causes, conditions continue to violate and remedial due to administrative violations in the field of securities and stock market.
Chapter II ADMINISTRATIVE VIOLATIONS in the FIELD of SECURITIES and STOCK MARKET, SANCTIONS and SANCTION 1. VIOLATION of the REGULATIONS on the RELEASE of SECURITIES to the PUBLIC article 8. Sanctions for violations of the regulations on the release of securities to the public 1. A fine of 10 million dong to 20 million dong from for each issuer, issuing advisory organizations perform one of the following violations: a) approvals issued stock to the public to send to the State Securities Commission has false information or concealed the truth;
b) use the information beyond the prospectus to probe the market before being allowed to release securities to the public;
c) distribution of securities to the public before making the announcement of release;
d) securities issued to the public are not in the correct subscription content released on the category of securities, issued and deadlines minimum volume as specified;
DD) announce the release of securities on the means of mass communication to improper content, duration and the prescribed time;
e) no financial institutions join the underwriting for bonds;
g) underwriting organizations perform underwriting of stock values exceeds the rate specified by law.
2. A fine of from 20 million to 50 million dong VND for each issuer advisory organization, released the audit organization, participated in drafting the stock issuance to the public the false in the registration records release.
3. A fine of 50 million to 70 million dong VND for each issuer, underwriting organizations perform one of the following violations: a) the securities issued to the public when no certificate of registration of securities issuance;
b) made underwriting securities to the public when not yet licensed for this kind of underwriting business.
4. additional sanctions a) deprived of the right to use the certificate of registration of securities issuance time limit of 60 days for violations of the provisions of paragraph 1 of this article;
b) deprived of the right to use the certificate of registration issued for the term no securities violation prescribed in clause 2 of this Thing;
c) confiscated the entire revenues of individual services, the organization with breach of the provisions in paragraph 2 of this Article.
5. Apply remedial measures a) issuers must recover the securities were issued, a refund the deposit or money to buy stocks for the investment, if the investment required to cancel the purchase within a period of 60 days from the date of being deprived of the right to use the registered certificate issued in case the issuer gets additional sanctions as defined in point a of this clause 4;
b) issuers must recover the securities were issued, a refund the deposit or money to buy stocks for the investment in the time limit of 30 days, from the date of being deprived of the right to use the registered certificate issued, in case the issuer gets additional sanction specified in point b of paragraph 4 of this Article.
Section 2 VIOLATION of the REGULATIONS on SECURITIES LISTED on the STOCK EXCHANGE CENTRE, STOCK EXCHANGE article 9. Sanctions for violations of regulations on securities listed on the Stock Exchange Centre (stock exchange) 1. A fine of 10 million dong to 20 million VND from each listed organization, listing organizations perform one of the following violations:

a) Licensing application listed send the State Securities Committee has false information or concealed the truth;
b) listed organizations release more shares, but do not do the registration procedure supplementary;
c) listed organizations made the separation, included stock but does not report the State Securities Commission or when not yet listed-registration;
d) organization listed does not accept the rules of the time, content and means of information disclosure for the listed license granted.
2. A fine of from 20 million to 70 million dong for each listed organization, organization listing, audit organizations participated in drafting the profile listed on the fake in the application for permission to be listed.
3. additional sanctions a) deprived of the right to use the license listed time limit of 60 days for violations of the provisions of paragraph 1 of this article;
b) deprived of the right to use the license listed indefinitely for violations of the provisions in paragraph 2 of this Article;
c) confiscated the entire revenues of individual services, the organization with breach of the provisions in paragraph 2 of this Article.
Section 3 VIOLATION the RULES of the SECURITIES Regulator 10. Sanctions for violations of the regulations on stock trading activity 1. A fine of 10 million dong to 20 million dong from for individual, organization, do one of the following violations: a) entity retrieved personally open accounts to buy, sell stock or violation of the provisions of the law on the securities trading account opening;
b) stock company, stock exchange orders of customers outside its headquarters, branches, offices, agents received the command of the company;
c) organization or individual investors make money funds buy stocks is not properly defined or stock companies not strict control to the investor filed a lack of money to order stock trigger the slow chễ or inability to pay in payments transactions in securities;
d) members of the Board, the Board of Directors, Chief accountants, controllers of the listed companies and the relevant acts of official stock transaction listed companies that don't report to the securities trading centre, stock exchange before 10 working days before implementation.
2. A fine of from 20 million to 50 million dong VND for individual, organization, do one of the following violations: a) Buy, sell securities outside stock trading centre (stock exchange) except the odd batch transactions made between securities company and a side of the investment;
b) listed organizations made buying, selling his own stock back when the State Securities Committee.
3. A fine of 50 million to 70 million dong VND for individual, organization, do one of the following violations: a) using internal information or disclose, provide insider information or advise others to buy, sell stocks for themselves or for third parties;
b) stock that does not change the ownership of the stock;
c) collusion to make buying, selling securities to create bows, fake bridge;
d) join other people entice constantly buy, sell stock price manipulation;
DD) creating or spreading false information causing other people misconceptions about the financial situation, the activities of the issuer, listing organizations and understand the stock price;
e) create or spread false information to influence increases, decreases, or pliers make stock prices fluctuate on market;
g) sale of stock in any form when not owning stock at the time of the transaction.
4. additional sanctions a) deprived of the right to use the certificate of practice is not the time limit for cases who have professional securities business or who have professional fund managers directly make the violation of the provisions in paragraph 3 of this article;
b) deprived of the right to use the securities business license deadline 45 days for violating securities regulations in paragraph 3 of this article;
c) confiscated the entire revenues of individual services, the organization with violations of the provisions of paragraph 3 of this article.
5. Apply remedial measures Forcing the correct observance of the provisions of the law for violations of the provisions of art. 2 of this Thing.
Article 11. Sanctions for violations of regulations on the protection of shareholders, or mergers of enterprises 1. 5 million to 10 million dong fine copper for organizations, individuals perform one of the following violations: a) individual organizations holding or together with associated persons holding 5%, 10%, 15%, 20% of the capital stock of a listed organization, every change made holding rate is increased or decreased compared to the level above which are not reported in writing to the Securities trading centre (stock exchange), the State Securities Committee and listed organizations, within 3 working days, since buying, selling securities owned rate mentioned above;
b) the members of the Board, the Board of Directors, Board of supervisors violated the commitment to hold at least 50% of its own shares in accordance with the prescribed time limit.
2. A fine of from 20 million to 70 million dong VND for individual, organization, do one of the following violations:

a) organized or individual investors whose behaviour made mergers that do not report the State Securities Committee and not published publicly bid according to the regulations; or organization, individual investors make mergers were the State Securities Commission approved, made a public bid announced by regulation, but change the intention of mergers were announced without reporting the change of this intention to the State Securities Commission;
b) organizations or individuals that control behavior made the bid at a price lower than the current price of the stock listing on the market before the bid;
c) within the bid public, organizations or individuals who control not to apply the conditions of a public bid for all of the shareholders of the listed organizations are under control;
d) organizations, individuals acquiring refused to buy the shares of the listed organization from any shareholders of this organization according to published conditions or individual organization mergers make buy, sell the shares of the listed organization under any other form with conditions bid publicly;
DD) Organization, individuals acquiring not observance of time Hi buy publicity (not less than 30 days and not more than 60 days) or individual organization mergers made the sale of the stock of the acquirer being held before 6 months from the date of the end of the acquirer;
e) organizations, foreign individuals make to stock-holding securities of a listed issuer in excess of the rate specified by law.
3. Apply remedial measures Forcing the correct observance of the rule of law for violations specified in point a, b paragraph 1 and 2 of this Article.
VIOLATION of section 4 of the REGULATIONS on BUSINESS ACTIVITIES, registration, SECURITIES DEPOSITORY, CLEARING and PAYMENT for the SECURITIES TRANSACTIONS article 12. Sanctions for violations of regulations on securities business license and permit Fund Management 1. 5 million to 10 million dong fine copper for each business entity, securities services, fund management companies perform one of the following violations: a) using the incorrect designation prescribed in the securities business license, license management, license to open a branch granted;
b) celebrated the opening of operation when not yet fulfill the conditions prescribed by law;
c) activities violating the Charter company, the Fund rules or not report the amendment, supplement the Charter.
2. A fine of from 20 million to 50 million dong VND for each business entity, securities services, fund management companies perform one of the following violations: a) the conduct of business activities, to provide securities services without being licensed;
b) lend, lease or transfer of a licence;
c) business activities, provides services in the field of securities for which the license is not specified or the license has expired;
d) erasing, fix a business license, a license to open a branch, Representative Office license;
DD) Transfer or change headquarters, close or open the Add branch, Representative Office of the securities business organization or fund management company when not yet State Securities Commission approval;
e) made the split or merged with the securities business organizations or other fund management companies when not yet State Securities Committee permitted;
g) representatives of business organizations, foreign securities directly involved in stock trading activities contrary to the provisions of the law.
3. additional sanctions a) confiscating the entire earnings from operations violate the provisions in points a, b, c, g paragraph 2 of this Article;
b) deprived of the right to use the business license or license stock fund managers the time limit of 30 days for violations specified in point b of paragraph 1; the points b, c, d, e, item 2 of this Article.
Article 13. Sanctions for violations of the regulations on professional stock trading and fund management 1. 5 million to 10 million dong fine copper for each business entity, securities services, fund management companies perform one of the following violations: a) the layout yet professional business practices that the Securities Committee of the State regulation must have the certificate of practice;
b) does not change or transfer for those practising certificates were State Securities Committee decided to revoke the certificate.
2. A fine of 10 million dong to 20 million VND for the practice of trading securities, fund management practitioners perform one of the following violations: a) the practice of trading securities at the same time working or raising capital on two or more securities firms;
b) securities company employee to open a trading account at a securities other securities;
c) member of the Board, Member Board of Directors, members of the Board of control of securities companies to invest in a stock company;
d) Fund management practitioners at the same time as Director or shareholder owns on 5% of the voting shares of an issuer of securities;
DD) To borrow or rent professional stock trading;
e) erasing, repair practice stock trading, professional fund managers.
3. additional sanctions

Deprived of the right to use the certificate of practice time limit of 45 days for violations of the provisions in paragraph 2 of this Article.
Article 14. Sanctions for violations of the regulations on the company's trading activities in securities 1. 5 million to 10 million dong fine copper for securities companies perform one of the following violations: a) Not done properly the provisions of the legislation on the management and use of money, securities and assets of the client; the property, funds and securities of the company;
b) fails to maintain adequate capital levels available in accordance with the law;
c) investment in securities or capital contribution exceeds the limits prescribed by law;
d) securities companies to invest in other securities.
2. A fine of 10 million dong to 20 million VND for securities companies perform one of the following violations: a) does not make separation of proprietary trading business to brokers, portfolio management, underwriting; or not to separate the business activities of the company owners with the business operations of the securities firm;
b) Make left buying selling securities of the investment;
c) Not provided; or does not confirm the information about the transaction according to the legal provisions; or does not perform the security mode information for the client as specified by law;
3. A fine of 50 million to 70 million dong VND for securities companies perform one of the following violations: a) arbitrarily buy, sell the securities on the client's accounts or borrowed the name clients to buy, sell securities;
b) active participation of credit and securities lending.
4. additional sanctions a) deprived of the right to use the securities business license deadline 30 days in case of violation of the provisions in paragraph 2 of this Article;
b) deprived of the right to use the securities business license deadline 45 days in case of a violation of paragraph 3 of this article;
c) confiscated the revenues are from violations of the provisions of paragraph 3 of this article.
5. Apply remedial measures Forcing the correct observance of the provisions of the law for violations of the provisions of paragraph 1 of this article.
Article 15. Sanctions for violations of the regulations on business activities of the investment fund management company 1. 5 million to 10 million dong fine copper for fund management companies to perform one of the following violations: a) are not separate from the management of each Fund;
b) does not comply with the Charter of rights protection fund and the investment;
c) do not perform internal control under the provisions of the law;
d) does not make the other obligations of the Fund management company under the provisions of the law.
2. A fine of from 20 million to 50 million dong VND for fund management companies to perform one of the following violations: a) the capital or assets of the investment fund of securities lending or underwriting;
b) capital and assets of this Fund to invest or buy the assets of another fund managed by themselves.
3. additional sanctions a) deprived of the right to use license for a 30-day time limit for fund management in case of violation of the provisions in points a, b paragraph 1 of this article;
b) deprived of the right to use the license management on 45 time limit in case of violation of clause 2 of this Thing;
c) confiscated the revenues are from violations of the provisions in paragraph 2 of this Article.
Article 16. Sanctions for violations of rules on banking supervision responsibilities 1. A fine of 10 million dong to 20 million dong from for bank supervision made one of the following violations: Bank oversight to preserve the assets of the investment fund left the Fund with the Charter; or not to separate the assets of securities investment fund with other assets; or not to separate the assets of this Fund with assets of other investment funds.
2. additional sanctions deprived of right to use license for depository time limit of 30 days, in case of violation of clause 1 of this article.
Article 17. Sanctions for violations of the regulations on registration, securities depository, clearing and payment for the securities transactions 1. A fine of 10 million dong to 20 million dong from for registered organizations, depository, clearing and payment for the securities transaction done one of the following violations: a) violated the rules of the time confirm the stock balance, transfer stock ownership or repair voucher , falsify in stock transfer payment causing physical damage to the client;
b) violating stock preservation mode; the mode register, depository, clearing and payment for securities transactions;
c) does not provide complete, timely, accurate list of who holds securities and related documents for the issuer.
2. A fine of from 20 million to 50 million dong VND for registered organizations, depository, clearing and payment for securities loaned transactions in securities on the client's account or using the customer's securities to pledge.
3. additional sanctions confiscate the revenues gained from the implementation of the violations of the provisions in paragraph 2 of this Article.
Section 5 VIOLATION REPORTING, DISCLOSURE of INFORMATION and OBSTRUCT the INSPECTION, CHECK the Article 18. Sanctions for violations of regulations on reporting mode

1. Caution or a fine from 200,000 VND to 1.000.000 VND for issuers of securities, listing organizations, securities companies, fund management companies, investment funds, banking, depository institutions specify the payment made to one of the following violations: a) the incomplete report the contents as specified by law;
b) report on time in accordance with the law;
c) incorrect reporting form provisions of the State Securities Committee.
2. A fine of 5 million dong to 20 million VND for each company securities, investment fund management companies, securities depository institutions perform one of the following violations: a) ceased operations without reporting or reported but yet to be approved by the State Securities Commission;
b) Not reporting or not reporting promptly when abnormal events occur that can cause a severe impact to the financial capabilities and business operations, securities services.
3. additional sanctions deprived of the right to use the business license of securities for securities companies, fund management license for fund management companies, depository license for depository institutions within 30 days, in case of violation of clause 2 of this Thing.
Article 19. Sanctions for violations of rules on disclosure of information 1. A fine from 20 million to 50 million dong VND for issuers of securities, listing organizations, securities firms, investment fund management companies perform one of the following violations: a) published information is not sufficient, timely, true periodically as prescribed by law;
b) publish information and report untrue;
c) disclose confidential data, yet access to documents save the criminal liability;
d) announced changes to published information content adversely affected to the stock market, investors but for unknown reasons the change and not the competent authority report in accordance with the regulations;
DD) published the information in reverse or deny the information that has been published previously;
e) No disclosure of information under the provisions of the law.
2. Apply remedial measures Forced the cancellation, dispute the false information, not true.
Article 20. Sanctions for acts impedes the inspection, test or does not implement the recommendations of the inspection 1. Caution with respect to the issuer, listing organizations, securities companies, fund management companies, depository institutions, bank supervision and organization, individuals involved in other securities operations has countermeasures behavior, did not provide adequate, timely documents, documents, vouchers data, to postpone, evade the requirements of the Organization, the delegation inspected the inspector or inspectors while on duty.
2. A fine of 2 million to 5 million dong VND for the Organization, individuals perform one of the following violations: a) Not request of Executive stock inspection and other competent bodies;
b) conceals, fix vouchers, documents, books or alter the evidence while being inspected;
c) arbitrarily removed, moved, or have other behavior altering the condition of the sealing of money, securities, books, records, accounting documents or exhibits, the media being sealed.
Chapter III JURISDICTION and PROCEDURE for SANCTIONING of ADMINISTRATIVE VIOLATIONS to article 21. The authority sanctioning administrative violations 1. The Chief Inspector of the majors has the right: a) caution;
b) the maximum fine up to 70 million;
c) applying additional sanctions and remedial measures as prescribed in paragraph 2 and 3 of article 7 of this Decree.
2. specialized inspectors are on duty have the right: a) caution;
b) the maximum fine to 200,000;
c) confiscated exhibits, the means used to administrative violations worth up to 2 million;
d) Forcing the correct observance of the provisions of the law for the administrative violations;
DD) forced the cancellation of major improvements, the false information, not true.
3. The President of the people's Committee of the authority sanctioning administrative violations, as specified in article 42 Ordinance handling administrative violations, for administrative violations in the field of securities and stock market regulations in this Decree, and must inform the State Securities Commission said.
Article 22. Mandate sanctioning administrative violations in the case of authority sanctioning administrative violations specified in clause 1 3 of this Decree, article 21 is absent, the deputies authorised directly by the competent text sanctioning administrative violations, but is not authorized and is responsible for its decision.
Article 23. Suspension of administrative violations When detected violations of the administrative authority sanctioning administrative violations must have text-ordered the immediate suspension of administrative violations.
Article 24. Set the minutes about administrative violations 1. After ordered the suspension of administrative violations, the competent sanctions are on duty to promptly establish the minutes of administrative violations and report the up Chief Justice Inspector of specialization according to the provisions of Decree No. 17/2000/ND-CP dated 26 May 2000 from the Government on the Organization and operation of inspection stock.

2. The minutes of administrative violations are applicable to all cases of violations in the field of securities and stock market, unless caution or violation is determined from the courts moved to handle administrative violations.
3. The minutes about sanctioning administrative violations must be established at least 2 a according to the form prescribed. The minutes must be founded thereon, the offense or the representative of the organization violated registration. If there are witnesses, victims or their representatives held suffered damage, they must jointly sign the minutes. If the minutes of the sheet specified in this paragraph must sign on each record sheet. The case of the infringement, the Organization's representatives, witnesses, victims or their representatives held victims refused to sign the minutes of the founding documents must specify the reason on the minutes.
4. Minutes of finishing are delivered to organizations and individuals violating the 1st Edition; If the violations exceeded the authority sanctioning administrative violations of the established thereon, the person who created the minutes must send the minutes of the administrative violations (original) and whole document, records have discovered related to violations to the competent sanctions within 3 working days from the date of establishment of the minutes of administrative violations.
Article 25. The decision to sanction 1. Sanction decisions must be made at least 5 copies according to the prescribed form (for the sanctions warning) and established at least 6 a prescribed form (for shape).
2. The time limit for a decision sanctioning administrative violations is 10 days (working), since the establishment of the administrative infringement thereon; with regard to the incident have more complexity, the time limit for a decision sanctioning is 30 days. The case needed more time to verify, collect evidence, then the competent person must report the heads directly by writing to please renew. The extension is written; grace period not exceeding 30 days. Too time authority sanctions cannot be a right decision to sanction; in no case shall sanction decision can still apply remedial measures prescribed in paragraph 3 article 7 of this Decree.
3. When a decision to sanction for an organization, individuals perform various administrative violations, the authority indicated a decision on sanctions. For service work that are more personal, the Organization has administrative violations are the same, but between them they have no relevance with each other in the process occurred violations, then every individual, organization sanctioned by punishment decisions. Based on the nature and extent of the violation of the individual, the organization that authorized the sanctions decided specific fines accordingly.
If the form and the level of sanction beyond the jurisdiction of the sanctions, that person must turn up violations sanctions authorized.
4. In the case of administrative violation under the jurisdiction of many sanctions, the sanctions by accepting the first made.
5. Decide on sanctions in effect since the date of signing, unless otherwise specified in the decision on the other effect.
6. The time limit for sending the decision to sanction for the Organization, individuals sanctioned and fine collection agency is 10 working days from the date of the decision to sanction.
Article 26. Fine procedure 1. The case of a fine must make the formalities provided for in Articles 24 and 25 of chapter III of this Decree. Within 10 working days from the date of the decision was given sanction, organized, sanctioned personal money to pay the fine amounts are stated in the decision to sanction the State Treasury and get receipts.
2. When a fine, level specific fines for administrative violations is the average of the frame of penalties are prescribed for the Act; If there are extenuating circumstances, the fines can be reduced but not excessive reduction of minimum fine frame; If there are aggravating the fines may be increased but do not exceed the maximum level of fine frame.
Article 27. The procedure deprived the right to use the license, certificate of practice 1. The Chief Inspector of the majors have the right decision deprived the right to use the license, certificate of practice as defined in point b of paragraph 2 article 7 of this Decree.
2. in case of stripping rights to use the license, certificate of practice, in the decision to sanction must specify: the name; type; the number of the licence; the number of the certificate; the time limit for removal using the Professional license. The case turns out decided to suspend a specific business activity, then the competent person must sanction clearly in the decision on sanctions suspended operations and the time limit for removal of that business activity.
3. When permission is granted is not the right authority or have content that is unlawful, the person who has the authority to sanction the revocation right simultaneously reported to the State Licensing Agency know.
Article 28. Procedure for confiscated exhibits and exhibits media handling administrative violations

1. When confiscated exhibits, means of administrative violations are recorded in the decision to sanction, the sanction authority must establish the minutes of confiscated exhibits, means of administrative violation according to the form prescribed. The minutes must be signed by the person conducting the seizure, the person sentenced, representative of the organization sanctioned or bystanders.
2. In case of need to seal exhibits, the media breached it must proceed immediately in front of the sanctioned administrative offense or the representative of the organization sanctioned and bystanders; If the person sentenced or representative of the organization sanctioned absence must have two witnesses.
3. The procedure of handling exhibits, means of administrative violations are made under article 61 Ordinance on handling administrative violations.
Article 29. Moving violation records signs crime so to criminal procedure to transfer the profile service violated criminal signs so criminal responsibility was implemented under article 62 Ordinance on handling administrative violations.
Article 30. Moving violation records to sanction violation of Executive and administrative decision sanctioning administrative violations of the procedures for transfer of records to sanction violations administrative violations and executive decision sanctioning administrative violations are made under article 63, 64 Ordinance on handling administrative violations.
Article 31. Coercive enforcement of the decision sanctioning administrative violations 1. Personally, the organization sanctioned administrative offense which does not voluntarily accept the decision sanctioning administrative violations shall be enforced by coercive measures: preferred) to deduct a portion of salary or income, deductions from your bank account;
b) levy property whose value corresponds to the number of fines for auction;
c) application of other coercive measures to carry confiscated exhibits, the means used to administrative violations, forcing the executive regulations of the law for administrative violations.
2. Who has the authority to sanction administrative violations specified in clause 1 and 3 article 21 of this Decree has the right to make decisions and coercive has the task of organizing the coercive.
3. Individuals, organizations receive coercive decisions must strictly obey the decision.
4. The State authorities, the police forces and the people's Committee responsible for coordinating the coercive enforcement organization upon request of the authority sanctioning administrative violations stipulates in paragraph 2 of this Article.
5. Individuals, organizations coerced must bear all costs of implementation of the coercive measures.
Article 32. Transfer decision sanctioning administrative violations in order to execute the transfer decision sanctioning administrative violations to enforce was made under article 68 Ordinance on handling administrative violations.
Article 33. Time limits enforced decision sanctioning administrative violations During execution of decision sanctioning administrative violations are made under article 69 Ordinance on handling administrative violations.
Chapter IV monitoring, CHECKING in the HANDLING of ADMINISTRATIVE VIOLATIONS, COMPLAINTS, accusations and HANDLE BREACHES AUTHORITY SANCTIONING ADMINISTRATIVE VIOLATIONS in the FIELD of SECURITIES and STOCK MARKET Article 34. Monitor, check the sanctioning of administrative violations in the Minister of finance is responsible to regularly monitor, check the sanctioning administrative violations in the field of securities and stock market; timely resolution of complaints, accusations of sanctioning administrative violations related to authorized sanctions prescribed in article 21 of this Decree; handle people have wrong in sanctioning administrative violations in the scope of its management and reporting regimes about administrative violations in the field yourself in charge at the request of the competent authority.
Article 35. Complaints, claims about the decision sanctioning administrative violations and accusations of unlawful behavior authority sanctioning administrative violations 1. Personally, the organization sanctioned administrative violations in the field of securities and the stock market has the right to complain against the decision handling administrative violations to the competent State authorities. The competent State authorities have a responsibility to solve under the provisions of the law on complaints and denunciation.
The petitioner about the decision sanctioning administrative violations administrative court in the people's courts of the levels is made according to the provisions of the law on complaints and denunciation and the Ordinance on procedures for administrative cases solved.
In the time of the complaint or sue the individual, the organization sanctioned administrative offense still had to enforce the sanction decision, when deciding to settle complaints by the competent State agencies or the verdict, the decision of the Court was in effect, the law enforcement under the complaint resolution decision of the competent State agency or by judgment the decision of the Court.
2. The report and to resolve accusations of unlawful acts in sanctioning administrative violations in the field of securities and the stock market are made according to the provisions of the law on complaints and denunciation and other legal regulations.
Article 36. Handling breaches authority sanctioning administrative violations in the field of securities and stock market

Handling breaches authority sanctioning administrative violations in the field of securities and the stock market are made under article 121 Ordinance handling administrative violations.
Chapter V PROVISIONS Enacted 37. The effect of the Decree the Decree has effect after 15 days from the date The report and replacing Decree No. 22/2000/ND-CP dated 10 July 2000 of the Government on sanctioning administrative violations in the field of securities and stock market. The previous provisions contrary to this Decree are repealed.
Article 38. The responsibility to guide the implementation of the Minister of finance is responsible for the instructions detailing the implementation of this Decree.
The Ministers, heads of ministerial agencies, heads of government agencies, the Chairman of the people's committees of provinces and cities under central authority responsible for the implementation of this Decree.