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One organization has been fined hundreds of millions of dong and placed under preventive measures for conducting stock market advisory activities without a license from the State Securities Commission (UBCKNN).
According to government information, on social media platforms there are organizations and individuals conducting stock market analyses, performing technical analyses of indicators, and issuing buy, sell, or hold recommendations for stocks. These organizations and individuals are not securities companies, not fund management companies, and are not licensed by the State Securities Commission (UBCKNN) to provide securities investment advisory services. They also do not operate within the scope of a licensed securities company or fund management company.
Under the securities law, engaging in securities-related activities or providing such services without a license is prohibited.
Investors are advised to be cautious when investing based on information from online sources, and to avoid being drawn into investments from unverified information on social networks or groups.
Organizations or individuals that publish analysis reports and recommendations to buy, sell, or hold securities for investors without a license will be punished in accordance with the law.
On April 17, 2026, based on supervisory results and in coordination with the Cyber Security Department and the High-Tech Crime Prevention, the State Securities Inspectorate issued a decision imposing administrative penalties in the securities and stock market against IT Investment Joint Stock Company (headquartered at 214/47 Nguyen Oanh, Go Vap Ward, Ho Chi Minh City).
Specifically, IT Investment JSC was fined 225 million VND for conducting securities advisory activities without a license from the UBCKNN.
Between 01/12/2025 and 01/04/2026, IT Investment JSC posted on its information portal reports analyzing stock codes and providing buy, sell, or hold recommendations to customers as investment advisory activities defined by Article 32, Section 4 of the Securities Law. The company is not a securities company or a fund management company and does not have a license from UBCKNN.
The company was also subjected to preventive measures, including:
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