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Securities firms suspended for violations

Update: September, 15/2012 - 08:45

HCM CITY (VNS) — The Viet Nam Securities Depository has decided to suspend the operations of Trang An Securities JSC and Golden Bridge Viet Nam Securities JSC for flouting regulations.

The suspension, effective until month end, follows repeated delays by the companies in meeting their securities payment obligations and failure to repay loans to the Settlement Compensation Fund in time.

The watchdog has ordered the two companies to pay the fund within five working days.

The VSD's fund is used in case of delays in the inter-bank money transfer system.

The depository is a repository for electronic shares and oversees transactions in shares. — VNS

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