Securities Commission tightens market monitoring
Securities Commission tightens market monitoring
The Ministry of Finance issued a new revised regulation on January 25 which, from March 8, will increase the monitoring of securities trading. Accordingly, the State Securities Commission will be responsible for checking all rumours and information sources on the stock market.
Specifically, the commission will have to watch out for cases of manipulation, inside trading and other violations.
In addition to receiving information from the stock exchanges, businesses, securities companies and the depository centre, the commission will also track rumours.
They will be responsible for conducting extraordinary checks to detect unusual transactions.
In addition, stock exchanges will support the commission by reviewing the truth reported in the media and through widespread word-of-mouth, as they monitor transactions on a daily basis.
Meanwhile, shareholders, board members and other authorized individuals will be obligated to provide adequate information about transactions.
Commercial banks will have to reveal the balance of investor accounts at the request of the commission.
Securities companies shall co-operate with the watchdogs upon request.
The depository centre, meanwhile, shall submit extraordinary reports to the commission as and when it detects violations related to the transfer of ownership, mortgages or fixing transaction errors.
Many negative rumours spread last year, causing tremendous losses to the stock market. Meanwhile, securities monitoring agencies failed to prevent market value from evaporating billions of dong.
The new circular this year is just one step being made to save the market and ensure the country remains on course to meet all of its economic goals
vietnamnews
