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Decree No. 78/2026/ND-CP amends and supplements a number of provisions of Decree No. 174/2024/ND-CP on sanctioning of administrative violations in the insurance business sector.
According to Article 1 of Decree No. 78/2026/ND-CP, Article 41 of Decree No. 174/2024/ND-CP is amended and supplemented to expand the competence to sanction administrative violations of regulations on insurance business for several titles.
Specifically, the Decree supplements and clarifies the competence of the following authorities:
- Heads of examination teams established by the Director of the Insurance Supervisory Authority: impose a fine of up to VND 80,000,000;
- The Director of the Insurance Supervisory Authority, and heads of examination teams established by the Minister of Finance: impose a fine of up to VND 100,000,000;
- Policemen who are on duty: impose a fine of up to VND 10,000,000;
- Heads of teams of the People’s Public Security Force and chiefs of commune-level police offices: impose a fine of up to VND 30,000,000 and impose a fine of up to VND 50,000,000, respectively;
- Heads of professional divisions under the Department of Economic Security, Heads of Divisions under provincial-level Police Departments, Directors of provincial-level Police Departments, and directors of departments under the Ministry of Public Security: impose a fine of up to VND 80,000,000 or impose a fine of up to VND 100,000,000;
- Titles under the State Bank of Vietnam, including Heads of inspection teams of the regional State Bank branches, Chief Inspectors of the regional State Bank branches, and the Chief Inspector of the State Bank of Vietnam: impose a fine of up to VND 50,000,000, impose a fine of up to VND 80,000,000, or impose a fine of up to VND 100,000,000, depending on their level.
In addition, these authorities are also entitled to apply the remedial measures defined in Clause 5, Article 3 of this Decree.
Previously, Article 41 of Decree No. 174/2024/ND-CP already provided for sanctioning competence but had not clearly and comprehensively specified such competence according to each force and rank as provided in the amended provisions.
Decree No. 78/2026/ND-CP clarifies specific titles within the People’s Public Security Force and the State Bank of Vietnam, specifies the corresponding maximum fine levels for each rank, and supplements additional entities having sanctioning competence in practice.
