Everest Securities hit with VND1.1bn fine, derivative operations suspended

On December 12, 2025, Everest Securities Joint Stock Company (EVS) announced that the State Securities Commission of Vietnam (UBCKNN) issued Decision No. 500/QD-XPHC on December 11, 2025, imposing administrative sanctions for various violations in the securities market. The total fine levied against EVS is VND 1,135,000,000.

Key violations include a VND 60,000,000 fine for employing personnel without required securities practice certificates, a VND 125,000,000 fine for exceeding investment limits, and a VND 40,000,000 fine for failing to register as a clearing member for derivative securities within the stipulated timeframe. Additionally, EVS was fined for opening margin trading accounts for internal personnel, failing to ensure complete information in private placement bond filings, and providing other services without proper UBCKNN reporting.

As a supplementary penalty, EVS will have its clearing and settlement operations for derivative securities suspended for two months, effective from the date of the decision. The company is also required to report accurate information for past violations concerning inaccurate financial safety ratio reports.