The National Competition Commission has issued penalties against gold trading giants SJC, Bao Tin Minh Chau, Doji, and TPBank for engaging in unfair competition practices.

According to decisions No. 197, 199, and 202, the commission imposed administrative fines on Doji Jewelry Group JSC, Saigon Jewelry Company Limited (SJC), and Bao Tin Minh Chau Co., Ltd.

Each company was fined 200 million VND (about 7,800 USD).

The violations involved disseminating misleading information about their products in order to attract customers away from competitors, an act deemed a breach of the Law on Competition.

The commission has ordered these companies to publicly correct the misleading information on their official websites.

In addition, under decision No. 198, TPBank was also fined 200 million VND (about 7,800 USD) for unfair competition. The bank was found guilty of providing misleading information about another enterprise in an effort to lure customers.

TPBank must also issue a public correction on its official website.

The National Competition Commission noted that during the investigation, all four entities - SJC, Bao Tin Minh Chau, Doji, and TPBank - cooperated actively by providing relevant documents and data. They also took measures to limit and mitigate the consequences of their violations.

Tam An