THE MINISTRY OF FINANCE
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SOCIALIST REPUBLIC OF VIETNAM
Independence – Freedom - Happiness
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No.37/2011/TT-BTC
Hanoi, March 16, 2011
 
CIRCULAR
GUIDING THE IMPLEMENTATION OF A NUMBER OF ARTICLES OF THE DECREE NO.85/2010/ND-CP DATED AUGUST 02, 2010 OF THE GOVERNMENT ON ADMINISTRATIVE SANCTIONS IN THE DOMAIN OF SECURITIES AND STOCKS MARKET
 
Pursuant to Law on Securities No.70/2006/QH11 dated June 29, 2006;
Pursuant to the Ordinance on Handling of Administrative violations dated July 02, 2002 and the Ordinance Amending, Supplementing a Number of Articles of the Ordinance on Sanction of Administrative violations dated April 02,2008;
Pursuant to the Decree No.128/2008/ND-CP dated December 16, 2008 of the Government detailing the implementation of a number of Articles of the 2002 Ordinance on Handling of Administrative violations and the 2008 Ordinance Amending, Supplementing a Number of Articles of the Ordinance on Handling of Administrative violations;
Pursuant to the Decree No.85/2010/ND-CP dated August 02, 2010 of the Government on handling of administrative violations in the domain of securities and stocks market;
Pursuant to the Decree No.37/2005/ND-CP dated March 18, 2005 of the Government stipulating the procedures for application of coercive measures for execution of administrative violation-sanctioning decisions;
Pursuant to the Decree No.118/2008/ND-CP dated November 27, 2008 of the Government regulating functions, tasks, powers and organizational structure of the Ministry of Finance, the Ministry of Finance guides implementation of a number of Articles of Decree No.85/2010/ND-CP dated August 02, 2010 of the Government on handling of administrative violations in the domain of securities and stocks market as follows:
Chapter I
GENERAL PROVISIONS
Article 1. Administrative violations in the domain of securities and stocks market
Administrative violations in the domain of securities and stocks market (hereinafter called as securities administrative violations for short) means the act intentionally or unintentionally implemented by individuals, organizations, violating regulations of law on securities and stocks market but not yet serious enough to prosecute for penal liability according to provisions of Decree No.85/2010/ND-CP dated August 02, 2010 of the Government on administrative sanctions in the domain of securities and stocks market (hereinafter called as Decree No.85 for short) must be sanctioned for administrative violations.
Article 2. Applicable principles for administrative sanctions
1. The securities administrative sanctions must be conducted promptly, publicly, clearly and thoroughly. All consequences of these securities administrative violations must be remedied according to regulations of law.
2. When issuing a decision of sanctions against violating individuals and organizations, the competent to sanction persons must base on the nature and seriousness of the violation, aggravating or extenuating circumstances specified in Article 8, Article 9 of the Ordinance on administrative sanctions, Article 6 of Decree No.128/2008/ND-CP of December 16, 2008 of the Government detailing the implementation of a number of Articles of the 2002 Ordinance on administrative sanctions and the 2008 Ordinance amending and supplementing a number of Articles of the