The State Securities Commission has fined Ho Chi Minh City Securities Corporation (HSC) for violations in employing staff without securities practice certificates.
The commission said violations were committed between January 2022 to October 2022, when the company arranged employees without due certificates to receive securities trading orders from customers.
The company was fined VND60 million ($2,500) under the Point a, Clause 2, Article 32 of Decree 156.
Listed on the Ho Chi Minh Stock Exchange, HSC is a leading securities broker and investment bank in Vietnam.
In the first six months of the year, the company reported revenues of VND1.22 trillion ($50.7 million) and after-tax profits of VND281 billion ($11.7 million), down 46% and 50% year-on-year, respectively.
As of June 30, 2023, HSC's total assets stood at VND14.3 trillion ($595.7 million), with equity reaching VND7.92 trillion ($329.9 million). It had an earnings per share (EPS) of VND615 ($0.02).