DIRECTLY SPREADING UNTRUTHFUL INFORMATION ABOUT OTHER ENTERPRISES WILL BE FINED UP TO VND 300 MILLION

According to Decree No. 75/2019/ND-CP issued by the Government on September 26, 2019 and coming into effect on December 01, 2019:

– Accordingly, the maximum fine for violations of regulations on unfair competition is VND 02 billion. This maximum fine is imposed on violations by organizations; the maximum fine for individuals committing the same violation of regulations on unfair competition is half of the maximum fine for organizations.

– New regulations on fine rates imposed on violations of unfair competition regulations. Of which:

• Acts of disclosing, using trade secrets without permission of the owner of such secrets or accessing trade secrets using taking actions against security measures will be fined from VND 200 to 300 million for each violation.
• A fine of from VND 100 to 200 million will be imposed on indirect acts and from VND 200 to 300 million on direct acts of spreading false information about another enterprise with the aim to cause harm to the prestige, financial status or business operations of that enterprise. A fine that is twice as much as the above rates will be imposed on violations committed within two provinces, municipalities or more.

Best regards,