Will clearly define the scope of operations of securities companies

The stock market is an important component of the capital market that helps mobilize and use capital effectively, contributing to the implementation of socio -economic development goals.

In recent times, Vietnam has had many solutions to develop the stock market and has achieved impressive initial results as the market size has been increasingly expanded, the market structure has been increasingly perfected and has become an important medium and long-term capital mobilization channel for businesses and the economy.

However, Vietnam's economy in general and the stock market in particular in 2023 still face many difficulties and challenges.

Therefore, the State Securities Commission (SSC) has proposed five solutions to ensure the continuous, smooth, stable and transparent operation of the stock market, while promoting the market to develop in a sustainable, safe and transparent manner, protecting the rights and legitimate interests of investors.

Firstly, regarding the completion of the legal and institutional framework, the Ministry of Finance and the State Securities Commission are reviewing all regulations in the Securities Law and guiding documents to immediately overcome shortcomings and difficulties.

It clearly stipulates the scope of operations and service provision of securities companies, adds regulations to better manage investors, and strengthens sanctions for violations to protect the legitimate rights and interests of investors to ensure the healthy, transparent and sustainable development of the stock market.

Finance - Banking - Will clearly define the scope of operations of securities companies — The Securities Commission said it will speed up the implementation of the KRX information technology system.

Second, regarding market organization activities, speed up the progress of putting the KRX information technology system into operation to facilitate the deployment of new products and services in the stock market and ensure the market operates smoothly, continuously, safely and effectively.

At the same time, the Ministry of Finance and the State Securities Commission are directing relevant parties to prepare a platform for trading individual corporate bonds to contribute to increasing transparency in the secondary market; promoting the restructuring of the stock market, improving the competitiveness and quality of market intermediary institutions through continuing to restructure securities companies and fund management companies according to the project approved by the Prime Minister .

Third, regarding supervision and inspection work in the stock market, enhancing the role and responsibility of the supervisory lines, in which promoting the role of the first supervisory line, which is securities companies, will be focused on to ensure a transparent and effective market operation.

Accordingly, the Ministry of Finance will strengthen supervision of securities companies to properly and fully perform their role as frontline supervisors as prescribed in the Securities Law 2019 and guiding documents to promptly prevent and detect violations in the market.

In addition, promote the improvement of human resources quality for inspection and supervision work; complete and put into use the upgraded transaction monitoring system with analysis, warning and statistical features.

In addition, continue to closely monitor developments in the domestic and international stock markets; coordinate with relevant agencies and organizations to strengthen supervision of trading activities in the stock market, and provide early warnings to investors about risks (if any) in the stock market.

Continue to strengthen inspection and examination work, and strictly handle violations in the stock market to increase deterrence, strengthen discipline in the market, and aim for transparent and sustainable development of the stock market.

Fourth, regarding communication work, strengthen the provision of complete, accurate and timely information to the investing public, helping businesses and investors quickly and fully access official information sources, limiting the psychological impact of rumors and fake news in the market.

Fifth, actively coordinate with international organizations to implement solutions to soon upgrade the Vietnamese stock market according to the set roadmap to attract the participation of foreign investors in the Vietnamese market .

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