GPBank penalised for violation of securities legal regulations

The Head Inspector at the State Securities Commission (SSC) on June 24 signed a decicion to impose a fine of VND 50 million on the Global PetroVietnam Joint Stock Commercial Bank (GPBank).

According to supervision carried out by inspectors at SSC, in December 2007, GPBank offered shares to the public to increase its charter capital from VND 500 billion to VND 1 trillion and distribute shares in a way that violates the legal regulations on securities and securities market.

GPBank has already admitted its violation.

The decision by the Head Inspector of SSC became effective on the signing date.

ND

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