New rule limits trading by idle brokerages - Economy

Updated

July, 20 2012 10:08:32

New rule limits trading by idle brokerages

HA NOI — The State Securities Commission on Tuesday announced a new regulation for securities companies that continued trading but no longer operated brokerage services, limiting them to only one trading account at other brokers.

The commission said: "Securities companies that engage in trading by themselves are allowed to open only one account and shall not open any self-trading accounts at other companies. In case securities firms withdraw their brokerage services, they are permitted to open one account at another securities company to conduct transactions for themselves.-VNS

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