Chương 10 Nghị định 48/1998/NĐ-CP: Thanh tra, giám sát và xử lý vi phạm

Chapter X

INSPECTION, SUPERVISION AND HANDLING OF VIOLATIONS

Article 77.- The general principles

Organizations engaged in the securities issuance, business and transactions and individuals engaged in securities activities shall be subject to the inspection and supervision by the State Securities Commission as prescribed by laws.

Article 78.- The objects and scope of inspection and supervision

1. The objects of inspection and supervision include:

a) Issuing organizations with securities traded at the Central Trading Market;

b) The Securities Trading Center and the Stock Exchange;

c) Securities firms; issuance underwriting organizations; investment fund management companies; securities registration, custody or clearing payment organizations and supervisory banks;

d) Securities business practitioners;

e) Organizations and individuals involved in securities activities and securities market.

2. The scope of inspection and supervision

a) Securities issuing activities

b) Securities transactions

c) Securities business, registration, clearing payment and custody activities;

d) Information disclosure

3. The inspected organizations and individuals shall have to furnish files, documents and information upon the requests of the inspecting organizations.

Article 79.- The settlement of disputes

1. Disputes arising from the securities issuance, business and transaction shall be settled first of all through negotiations and conciliation. The Securities Trading Center, the Stock Exchange or the State Securities Commission may act as a conciliator of the disputes. In cases of a conciliation failure, the concerned parties may refer the disputes to the economic arbitration or economic court for settlement according to laws.

2. Any dispute involving foreign parties, which the disputing parties fail to reach an agreement on or fail to settle according to the provisions of international treaties which the Socialist Republic of Vietnam has signed or acceded to, shall be settled in accordance with the Vietnamese law.

Article 80.- The handling of violations

Any organizations and/or individuals committing acts of violating the provisions of this Decree and other legal documents on securities and securities market shall, depending on the nature and seriousness of their violations, be disciplined, administratively sanctioned or examined for penal liability as prescribed by law. If material damage is caused, they shall have to compensate therefor as prescribed by law.