Saturday, September 23 2017

VietNamNews

SSC tightens stock market monitoring

Update: June, 28/2017 - 05:00
Investors follow transactions at the Hà Nội Stock Exchange (HNX). — Photo taichinhplus.vn
Viet Nam News

HÀ NỘI — The State Securities Commission (SSC) will tighten supervision of securities transactions on the national stock exchanges to ensure market transparency and efficiency, the Hải Quan (Customs) newspaper reported on June 27.

The move is part of a new draft circular by the finance ministry, aiming at guiding the supervision of securities trading on the two national stock exchanges.

According to the draft, the SSC will draw up and develop annual surveillance plans for securities transactions.

Under the plans, national stock exchanges together with the Securities Depository Center, trading members and other sources of information, will be responsible for submitting weekly and monthly reports to the SSC on the supervision of securities transactions.

Based on the reports, the SSC will carry out actions to prevent, detect and handle trading acts manipulating the stock market and other violations of regulations on securities trading.

The SSC will also monitor stock transactions of investors to detect abnormalities which may cause affect the confidence of investors.

Regarding abnormal transactions, the stock exchanges must send reports on these transactions to the SSC within 24 hours of detecting the cases.

For other cases, the stock exchanges have to assess each case and propose a plan to handle them.

The draft also stipulates that the Securities Depository Centre has the right to request organisations and individuals under their management that engage in derivatives trading to provide information for the supervision plan.

Whenever they detect abnormal signs in payments or signs of insolvent investors, the Securities Depository Centre must timely notify the SSC and the stock exchanges in a timely fashion. — VNS

 

Send Us Your Comments:

See also: