Eurocapital fined for failing to retain documents on the F8812505 bond issuance

The State Securities Commission has issued administrative penalty decisions against multiple securities firms for violations related to document retention and required disclosures in the securities and securities market sector.

Eurocapital Securities fined VND 210 million

Eurocapital Securities Joint Stock Company (Hanoi) was fined a total of VND 210 million.

Under Point d, Clause 3, Article 8 of Decree No. 156/2020/ND-CP (as amended by Decree No. 128/2021/NĐ-CP), the company was fined VND 125 million for failing to retain documents on selecting investors to participate in the purchase of the F8812505 bond issued by F88 Business Joint Stock Company during the primary issuance period from August 1, 2025 to August 15, 2025.

In addition, under Point a, Clause 4, Article 42 of Decree No. 156/2020/ND-CP dated December 31, 2020, the company was fined VND 85 million for not publishing information required by law. Specifically, it did not publish information about transactions with a value of 10% or more of the company’s total assets, including Brokerage Services Contract No. 23082024/HDMG/JBSV-ECC dated August 23, 2024 and Customer Referral Services Contract No. 01/2024/HĐ/GTKH-ECC dated August 23, 2024.

APG Securities fined VND 92.5 million

APG Securities Joint Stock Company (Ho Chi Minh City) was fined VND 92.5 million under Point a, Clause 4, Article 42 of Decree No. 156/2020/ND-CP for failing to publish information required by law.

The commission noted that the company did not send to the Hanoi Stock Exchange (HNX) the following disclosure documents:

• Reports on the use of funds raised from bond issuance for bonds still outstanding, audited by an eligible audit firm, for 2022.
• Reports on the use of funds raised from bond issuance for bonds still outstanding, audited by an eligible audit firm, for 2023.
• Reports on the company’s performance of commitments to bondholders for 2022.
• Reports on performance of commitments to bondholders in mid-2023.
• Reports on performance of commitments to bondholders for 2023.

Separately, the company was late in publishing documents including the completion of the early buyback of bonds under code APGH2124001, and reports on the use of funds raised from bond issuance for bonds still outstanding, audited by an eligible audit firm, for 2024.

Tan Viet Securities fined VND 125 million

Earlier, Tan Viet Securities Joint Stock Company (Hanoi) was fined VND 125 million under Point a, Clause 2, Article 32 of Decree No. 156/2020/ND-CP (as amended by Decree No. 306/2025/NĐ-CP dated November 25, 2025) for employing personnel without securities licenses to perform brokerage activities at its Haiphong branch from May 19, 2021 to January 20, 2026.