Administrative sanctions for many businesses violating gold trading

In the coming time, the market management force will continue to closely monitor gold trading activities to prevent and strictly handle violations according to the law, contributing to stabilizing the market.

To strengthen measures to manage and develop a safe, healthy, effective and sustainable gold market; to implement the direction of the Prime Minister, the Ministry of Industry and Trade and the General Department of Market Management on strengthening measures to manage the gold market, the market management force of Vinh Phuc province has stepped up inspection, supervision and sanctioning of violating enterprises.

According to the report of the Provincial Market Management Department, from the beginning of May 2024 to present, the Provincial Market Management force has coordinated with functional forces to organize inspections and handle 06 gold trading establishments with a total fine of 279,000,000 VND.

In Ninh Binh province, from May 15 to May 22, the Interdisciplinary Delegation of the Ninh Binh Provincial People's Committee inspected 19 establishments and fined 01 establishment for the violation: Not notifying the business registration agency about the deadline for continuing business with a fine of 12,500,000 VND.

“Through inspection activities, the authorities have promoted the dissemination of legal regulations on gold trading, contributing to stabilizing the market and helping businesses understand and comply with legal regulations in business activities,” said a representative of Ninh Binh province.