Regulatory Alerts2024-11-27 | 111/KL-TTAdded · Updated
Inspection Conclusion No. 111/KL-TT regarding the inspection of Hoang Huy Financial Service Investment Joint Stock Company
The State Securities Commission issued Inspection Conclusion No. 111/KL-TT finding that Hoang Huy Financial Service Investment Joint Stock Company (TCH) committed violations regarding information disclosure, corporate governance, and related-party transactions during the inspection period from August to September 2024. The regulator identified specific failures including the non-disclosure of profit variance explanations, incomplete reporting of related-party transactions in governance reports, and improper approval procedures for certain contracts and share purchases. Consequently, the Commission recommends administrative penalties for violations within the statute of limitations and mandates TCH to rectify governance defects, update its charter, and ensure full compliance with disclosure obligations.
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