Securities company issuing bonds of An Dong Group is under special control.

According to the announcement of the State Securities Commission, Tan Viet Securities Joint Stock Company (TVSI) is under special control because the financial safety ratio report on December 31, 2022 prepared by the company itself was not audited. The special control period is from May 18 to September 17.

Tan Viet Securities Company was put under special control.

In 2022, Tan Viet Securities Joint Stock Company was mentioned a lot by investors and the media because it participated in consulting and issuing bond lots of An Dong Investment Group under Van Thinh Phat Group or of Saigon Commercial Joint Stock Bank (SCB) as well as many other bond lots.

In early 2023, the State Securities Commission issued a decision to administratively sanction Tan Viet Securities Joint Stock Company, which was fined nearly VND 1 billion due to many violations related to consulting and corporate bond issuance activities, such as not fully performing the responsibilities of a consulting organization when reviewing compliance with regulations on corporate bond offering dossiers of a number of issuing organizations; not keeping documents on selecting investors to participate in purchasing offered securities; registering and depositing bonds not on time; delaying the publication of many contents such as quarterly periodic reports of the issuing agent, reports on the structure of investors holding bonds, the situation of principal and interest payments on bonds, etc.

According to regulations, during the period of special control, securities trading organizations are not allowed to pay dividends to shareholders, distribute profits to capital contributors, or distribute bonuses. At the same time, they are not allowed to convert unsecured debts into debts secured by the assets of the securities trading organization. In particular, during this period, securities trading organizations are not allowed to contribute capital to establish subsidiaries, invest in real estate; limit investment in assets with high risk levels or carry out business activities that increase risk value, reduce available capital, etc.

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