Officials detail crackdown on fake news, wrongdoings in capital market
An official of the Ministry of Public Security (MPS) mentioned measures for cracking down on fake news while another from the Ministry of Finance (MoF) highlighted ways to ensure the transparency of the financial, stock, and bond markets at the Government’s monthly press conference on April 29.
Lieutenant General To An Xo, Chief of the Ministry of Public Security's Office, speaks at the press conference on April 29. (Photo: VNA)
Hanoi (VNA) – An official of the Ministry of PublicSecurity (MPS) mentioned measures for cracking down on fake news while anotherfrom the Ministry of Finance (MoF) highlighted ways to ensure the transparency ofthe financial, stock, and bond markets at the Government’s monthly pressconference on April 29.
Lieutenant General To An Xo, Chief of the MPS Office, saidthe Prime Minister, the MoF, and the State Securities Commission recentlyissued directions for the settlement of fake news in not only the stock marketbut also many other aspects in society.
The MPS has ordered its departments and police oflocalities nationwide to step up preventing and prosecuting the persons whospread fake or unverified information and to take different measures, fromadministrative to criminal ones, to deal with the problem, he noted.
Meanwhile, Deputy Minister of Finance Nguyen DucChi said authorities are investigating the recent wrongdoings in the stock andbond markets and will release satisfactory conclusions in the coming time.
Underlining the necessity to perfect legal frameworks and theoperation of markets, he said his ministry will immediately review theregulations relevant to bonds, the Enterprise Law, and others so as to proposethe Government amend Decree No. 153/2020/ND-CP on the private placement of corporatebonds, thereby matching the reality and preventing wrongdoings.
The MoF will also work to restructure the stock market, Chinoted, adding that it will examine public and non-public companies when they mobilisecapital, increase monitoring to detect any signs of market manipulation, boostthe handling of irregularities in information release and capital use./.
Any act that aims at manipulating the stock and corporate bond markets to gain illicit profits will be punished strictly, according to the Ministry of Finance.
As the Vietnamese bond market is considered new compared to other countries, with less experience and smaller in size, flaws are inevitable. Therefore, it is necessary to make changes to improve and develop the market.
The Ministry of Public Security on April 20 issued a decision to conduct investigations into a case accused of manipulating the stock market at Tri Viet Securities Corp, Louis Holdings Group, Louis Capital JSC and relevant agencies, and detained four people.
How to develop a safe, transparent, effective, and sustainable capital market to ensure macro-economic stability is the focus of a conference held under the chair of Prime Minister Pham Minh Chinh on April 22.
The Vietnam News Agency talks with Minister of Finance Ho Duc Phoc about recent developments in Vietnam's stock market and his ministry's response to such events.
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Lieutenant General To An Xo, Chief of the Ministry of Public Security's Office, speaks at the press conference on April 29. (Photo: VNA) 
