State Securities Commission requests to strengthen supervision of transactions on the stock market

Recently, the Vietnamese stock market has seen strong growth in terms of scores, liquidity and prices of many stocks. In the face of the current strong growth of the stock market, the State Securities Commission has strengthened its supervision, inspection, and strict handling of violations to ensure the market operates stably and safely.

In particular, the State Securities Commission has also directed the Stock Exchanges and the Vietnam Securities Depository and Clearing Corporation (VSDC) to step up supervision work; at the same time, it has required securities companies to strictly comply with the law on securities and the securities market.

Strengthen supervision to ensure stable and safe market operations.

According to the management agency, the State Securities Commission has directed the Vietnam Stock Exchange (VNX), Ho Chi Minh City Stock Exchange (HoSE), and Hanoi Stock Exchange (HNX) to continue to strengthen supervision, ensuring the safe and stable operation of the stock market; closely monitor stocks with strong increases/decreases compared to the general developments of the market and the industry; review information on mass media and rumors related to stock codes. In case of determining that there are unusual transactions, the Stock Exchange will analyze, evaluate, recommend, propose handling options, and report to the State Securities Commission for handling according to regulations.

The management agency also requested VNX to direct and request trading members to strengthen supervision at line 1, closely monitor the developments of daily and multi-day transactions of investors opening accounts or conducting transactions at the place where trading members provide services, promptly detect cases with signs of violations of regulations on securities transactions, and report to the Stock Exchanges and the State Securities Commission.

Along with that, the State Securities Commission also requested VNX to coordinate with HoSE to coordinate with HNX and VDSC to ensure safe, stable and smooth securities trading, clearing and payment activities.

The State Securities Commission also requested VSDC to coordinate with VNX, HoSE, and HNX to ensure safe and smooth trading, clearing, and settlement of securities transactions; continue to monitor clearing, payment, position limits, and margin for securities transactions according to regulations. In case of detecting unusual signs, collect information and documents for supervision, report to the State Securities Commission, notify VNX, HOSE, and HNX for coordination in handling.

Require securities companies to strictly comply with legal regulations

For securities companies, the State Securities Commission has also directed that these companies strictly comply with legal regulations in conducting securities business activities, providing securities services; strictly comply with regulations on borrowing and lending for margin trading and other relevant legal regulations.

At the same time, securities companies must be responsible for managing the activities of employees and securities practitioners working at the company. Continue to strengthen the management and supervision of employees and practitioners to ensure compliance with securities laws; do not allow employees and securities practitioners of the company to perform the following acts: entice and invite people to participate in forums and groups to advise on securities investment in violation of the law; directly or indirectly invite customers to buy and sell securities, provide false information, causing misunderstanding to customers; give opinions on the increase or decrease of securities prices without basis; agree or make commitments on specific profits or agreements to share profits/losses with customers; perform acts that violate the law and professional ethics.

On the other hand, the management agency also requires securities companies to fully perform their obligations and responsibilities as trading members according to regulations; closely monitor compliance with legal regulations on securities trading by individuals and organizations who are customers of the company; actively and proactively coordinate with the State Securities Commission, Stock Exchanges, and VSDC in monitoring, inspection, and examination activities.

“In case of detecting transactions with signs of violating regulations on securities trading, securities companies must promptly report to VNX, HOSE, HNX, and at the same time report to the State Securities Commission for handling according to regulations” – the State Securities Commission emphasized in its directive.

BAO MINH

Source: https://nhandan.vn/uy-ban-chung-khoan-nha-nuoc-yeu-cau-tang-cuong-giam-sat-giao-dich-tren-thi-truong-chung-khoan-post899030.html