EVS Securities fined for appointing an unlicensed individual as head of brokerage

The State Securities Commission Inspectorate has issued an administrative penalty decision against EVS Securities Joint Stock Company (Hanoi) for a total amount of 290 million VND in the securities and stock market sector.

Penalty amounts and legal grounds

The heaviest penalty is 137.5 million VND under point d, clause 3, Article 26 of Decree 156/2020/ND-CP (dated December 31, 2020). The decision cites violations related to providing incomplete or inaccurate customer information required by the State Securities Commission under Article 89 of the Securities Law.

Specifically, EVS provided data related to stock trading, including device-identified information used to place stock orders and investors’ online money transfer information, with inconsistencies across submissions.

In addition, EVS was fined 60 million VND under point a, clause 2, Article 32 of Decree 156/2020/ND-CP for appointing an individual without a securities license to perform brokerage activities. Under the decision, from 05/09/2022 to 05/09/2024, EVS arranged staff without a securities license to serve as Head of Brokerage and opened stock trading accounts for customers.

EVS also received a 92.5 million VND penalty under point a, clause 4, Article 42 of Decree 156/2020/ND-CP for not publishing required information under legal provisions. The company did not send information to the Hanoi Stock Exchange, including:

• Reports on the use of funds from bond issuances for bonds outstanding, audited by an eligible audit organization, in 2022.
• Reports on the use of funds from bond issuances for bonds outstanding, audited by an eligible audit organization, in 2023.
• Reports on the performance of commitments by the issuer to bondholders in 2022.

EVS’s reported 2025 business results

According to EVS’s 2025 annual report, the company recorded total operating revenue of 275.935 trillion VND, up 58% versus the 2025 plan of 174.7 billion VND. After-tax profit reached 12.088 trillion VND, up 29% versus the plan of 9.36 trillion VND.

EVS also stated that its 2025 results differed from 2024. Operating revenue in 2025 rose 9.67% year-on-year from nearly 252 billion VND to 275.9 billion VND, while after-tax profit declined 29.63% year-on-year from 17.177 billion VND to 12.088 billion VND.

Revenue structure in 2025

EVS said that in 2025, the revenue structure mainly came from interest income on financial assets recognized at fair value through profit or loss (FVTPL), interest from loans and receivables, and revenue from securities brokerage activities.

• Interest income from FVTPL assets in 2025: 237.7 billion VND, up 18.14% from 2024, accounting for 86.16% of total operating revenue in 2025.
• Interest from loans and receivables: 18.9 billion VND.
• Revenue from brokerage activities: 15.3 billion VND.

The remainder includes revenue from securities depository services, financial advisory services, and other activities.