Securities company fined for "mistakenly" placing a sell order for a customer

September 15, 2023 15:17 Nhat Linh Print article

ANTD.VN - Receiving a customer's trading order to sell stocks, Mirae Asset Vietnam Securities Joint Stock Company placed a buying order.

The State Securities Commission has just issued a decision to sanction administrative violations in the field of securities and the securities market against Mirae Asset Vietnam Securities Joint Stock Company.

Mirae Asset Securities received a penalty decision from the State Securities Commission

According to the decision of the State Securities Commission, Mirae Asset Vietnam Securities Joint Stock Company violated the regulation by not accurately executing customer trading orders.

The Company has received and placed orders for the sale of shares of Lizen Joint Stock Company (stock code: LCG) of Mr. Nguyen Van Nghia from June 8, 2023 to June 16, 2023.

However, this Securities Company made a transaction to buy 20,000 LCG shares (on June 9, 2023), which was not in accordance with the customer's transaction order and sold in excess of the customer's registered transaction volume (selling more than 20,000 LCG shares).

Accordingly, Mirae Asset Vietnam Securities was fined VND 112.5 million according to the provisions of Point g, Clause 3, Article 26 of Decree No. 156/2020/ND-CP dated December 31, 2020 of the Government stipulating administrative sanctions in the field of securities and the securities market for violations of regulations on receiving and executing customer trading orders.

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