Insurers to face fines for investing in securities

Insurance companies are likely to face fines of VND200 million (US$9,500) if they try to borrow to invest in other sectors, including securities, according to a draft Government decree.

The draft decree, to replace Decree 41/2009/ND-CP on sanctioning insurance violations, contains many new rulings apart from fines.

The Ministry of Finance is gathering opinions on the draft before submitting it to the Government for approval.

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