Buying shares early, Chairman of Everest Securities was fined and suspended from trading shares for 2 months

In addition to the fine of more than VND75 million, the State Securities Commission imposed an additional penalty of suspending securities trading activities for a period of 2 months on Mr. Nguyen Hai Chau for purchasing shares before the registration time for trading.

On May 31, 2024, the State Securities Commission (SSC) issued Decision No. 617 /QD-XPHC on administrative sanctions against Mr. Nguyen Hai Chau for trading outside the time period when the Vietnam Stock Exchange or its subsidiaries disclosed information. Specifically, the Hanoi Stock Exchange announced that Mr. Nguyen Hai Chau - Chairman of the Board of Directors of Everest Securities Joint Stock Company registered to buy 1,200,000 EVS shares from November 8, 2022 to November 30, 2022. However, on November 7, 2022, Mr. Nguyen Hai Chau purchased 1,005,000 EVS shares .

The State Securities Commission shall apply the administrative penalty of VND 75,375 million in accordance with the provisions of Clause 3, Article 5 and Point h, Clause 4, Article 33 of Decree No. 156/2020/ND-CP dated December 31, 2020 of the Government regulating administrative sanctions for violations in the field of securities and the securities market (Decree No. 156/2020/ND-CP) as amended and supplemented according to the provisions of Clause 4 and Clause 27, Article 1 of Decree No. 128/2021/ND-CP dated December 30, 2021 of the Government amending and supplementing a number of articles of Decree No. 156/2020/ND-CP (Decree No. 128/2021/ND-CP).

At the same time, the State Securities Commission also applied the additional penalty of suspending securities trading activities for a period of 02 months, as prescribed in Point a, Clause 7, Article 33 of Decree No. 156/2020/ND-CP, amended and supplemented according to the provisions of Clause 27, Article 1 of Decree No. 128/2021/ND-CP.

According to the provisions of the 2019 Securities Law, insiders of public companies, public securities investment companies, public funds and related persons of these entities must disclose information before and after transactions or when there is a change in ownership of shares, stock purchase rights, convertible bonds, convertible bond purchase rights, fund certificates, fund certificate purchase rights or warrants with guarantees based on securities of public companies, public securities investment companies, public funds.

Insiders are people who hold important positions in the management and operation of an enterprise, public fund, or public securities investment company. In particular, the Chairman of the Board of Directors or Chairman of the Board of Members or Chairman of the company, members of the Board of Directors or members of the Board of Members, legal representatives, General Director (Director), Deputy General Director (Deputy Director), Chief Financial Officer, Chief Accountant, and equivalent management positions elected by the General Meeting of Shareholders or appointed by the Board of Directors or Board of Members or Chairman of the company; Head of the Supervisory Board and members of the Supervisory Board (Controller), members of the Internal Audit Board; company secretary, person in charge of corporate governance, and persons authorized to disclose information are on this list.

Mr. Nguyen Hai Chau (born in 1986) joined the Board of Directors of Everest Securities Joint Stock Company since 2018 and assumed the position of Chairman of the Board of Directors since July 2021. The EVS stock transaction in November 2022 was also the time this individual purchased additional shares of Everest Securities. Mr. Chau currently owns 4.06 million EVS shares, equivalent to 2.47% of charter capital.

Source: https://baodautu.vn/mua-som-co-phieu-chu-tich-chung-khoan-everest-bi-phat-dung-giao-dich-co-phieu-2-thang-d216532.html