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UBCKNN has warned that on social media platforms there are organizations and individuals conducting stock market analyses, performing technical analysis of indicators, and issuing buy, sell, and hold recommendations. UBCKNN said these organizations and individuals are not licensed to provide investment advisory services and are not authorized to operate within the scope of a securities firm or investment fund manager. Such conduct is prohibited under the Securities Law.
UBCKNN said that based on supervisory results and in cooperation with the Cyber Security and High-Tech Crime Prevention Department, it issued administrative penalties against CTCP Đầu tư ITP (ITP Investment JSC) for posting on its website analyses of certain stock codes, analyses of the company’s operations, and recommendations to buy, sell, or hold securities for clients.
UBCKNN stated that this conduct is considered securities investment advisory activity without a license from UBCKNN.
With these violations, ITP Investment JSC was fined 225 million dong.
UBCKNN also imposed a two-year prohibition from 22/04/2026 on a range of activities in the securities and stock market, including:
UBCKNN cautioned investors to be careful when investing based on information sources on the internet and to avoid being drawn into investments from unverified information on social networks and groups. UBCKNN said organizations or individuals that publish analytic reports and recommendations to buy, sell, or hold securities to investors before obtaining a license from UBCKNN will face strict penalties under the law.

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