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The State Securities Commission (UBCKNN) has issued Decision No. 206/QĐ-XPHC imposing administrative penalties for violations in the securities sector and securities market against HUDLAND Real Estate Investment and Development Joint Stock Company (ticker: HLD, listed on HNX).
Under the decision, HUDLAND Real Estate was fined 65 million VND for publishing incomplete information disclosures in accordance with the law. The regulator cited missing or incomplete content in several documents, including:
HUDLAND Real Estate was also fined 92.5 million VND for failing to disclose information that must be disclosed by law. The regulator pointed to non-disclosure in documents including:
In addition, the company was fined 137.5 million VND for violations of rules on transactions with shareholders, company managers, and related parties. The regulator stated that, based on the audited 2024 and 2025 financial statements (BCTCs) and supporting documents, HUDLAND had transactions with HUDS (Housing and Urban Services and HUDS project company) that were not approved by the AGM/BoD.
For these acts, HUDLAND Real Estate was fined a total of 295 million VND by the UBCKNN.
The UBCKNN also imposed penalties on other market participants:
The UBCKNN decisions were described as part of ongoing enforcement in the securities market.
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