'Big guy' Dragon Capital fined for buying and selling HDB shares without reporting

Recently, not only listed enterprises and securities companies, but also many domestic and foreign funds have been "named" by the Securities Commission's inspection agency, including MBCapital and Viet Cat fund.

The securities market management agency has increased penalties in this field - Photo: QUANG DINH

Reportable stock trading but not reported

The State Securities Commission has just signed and issued Decision No. 42 on administrative sanctions in the securities sector against Dragon Capital Vietnam Investment Fund Management Joint Stock Company.

Dragon Capital Vietnam has its headquarters in District 1, Ho Chi Minh City.

According to the decision, the above large investment fund was fined VND137.5 million for not reporting the expected transaction.

Specifically, the DC Dynamic Securities Investment Fund (DC Fund), managed by Dragon Capital, is an organization related to Mr. Luu Duc Khanh - Chairman of the DC Fund Representative Board, and also Vice Chairman of the Board of Directors of Ho Chi Minh City Development Joint Stock Commercial Bank (HDB).

According to regulations, Dragon Capital Fund Management Company performs the obligation to disclose information on behalf of DC Fund. However, this company has not reported on the expected transactions for some transactions of DC Fund from 2021 - 2022.

In which, the stock market management agency clearly listed that on October 14, 2021, DC Fund bought 200,000 HDB shares.

On October 26, 2021, DC Fund bought 100,000 HDB shares. In November 2021, this fund traded 450,000 HDB shares (of which it bought 300,000 shares and sold 150,000 shares).

On December 2, 2021, DC Fund continued to buy 150,000 HDB shares. Then, in April 2022, DC Fund sold 400,000 HDB shares and 1 month later sold 200,000 units.

Advance payment to 2 employees without specific job content

Recently, not only listed enterprises and securities companies, but also many domestic and foreign funds have been "named" by the Securities Commission's inspection agency.

Earlier this year, the State Securities Commission Inspectorate imposed administrative sanctions on MB Capital Management Joint Stock Company.

On the website, MBCapital introduces itself as a fund management company with a charter capital of 323 billion VND, 91% of which is owned by MBBank .

According to the penalty decision, MBCapital must pay VND92.5 million for not complying with the investment ratio. According to the monitoring report of the Joint Stock Commercial Bank for Investment and Development of Vietnam ( BIDV ) - Ha Thanh branch, on February 23, 2023, March 8, 2023 and September 30, 2024, the investment portfolio structure of the MB Bond Investment Fund exceeded the prescribed ratio, the decision stated.

Previously, Viet Cat Fund Management Joint Stock Company was also fined more than 312 million VND by the Securities Commission for many violations. This company is headquartered on the 11th floor of DOJI Tower building, Ba Dinh district, Hanoi.

Specifically, Viet Cat Fund Management was fined for not complying with the securities investment fund charter, violating regulations on lending or transferring the company's capital to organizations and individuals. In 2022 and 2023, this company advanced money to 2 employees without specific job content.

In addition, Viet Cat Fund Management also violated the law by not separating financial investment activities from securities investment fund management activities. Accordingly, the company arranged for one person to carry out financial investment and also be an executive for Viet Value Investment Fund.

Read more Back to Topics

Source: https://tuoitre.vn/ong-lon-dragon-capital-bi-phat-vi-mua-ban-co-phieu-hdb-khong-bao-cao-20250315204709124.htm