The State Securities Commission (SSC) said it will develop mechanismsto better co-operate with the Finance, Post and Telecommunications andPublic Security Ministries and State Bank of Vietnam to tackle insidertrading and activities that distort the market.
According to thecommission, the domestic stock market now has over 1,000 publiccompanies, nearly 700 listed companies, 105 securities companies, 47fund management firms and around 1 million accounts held by local andforeign investors.
The scale of management and inspection activities were therefore becoming broader and broader, said the commission.
"Togetherwith the development of the stock market, come new violations in themarket which are becoming more and more complicated, especially in thecontext that the market faces many difficulties," the commission wroteon its website.
"Thus, fortifying capacity in inspecting,supervising and treating violations related to securities and stockmarket laws will be a key task of the SSC in 2012."
Last year,the SSC issued 164 decisions on punishing violations by organisationsand individuals, with fines totalling almost 11 billion VND (523,800USD).
The SSC dealt with 63 cases that violated regulations oninitial public offerings and disclosure of information, and fined nineindividuals for trade fraud and market distortion. It also tackled 47cases of insider trading at listed firms and 11 cases of securitiescompanies violating reporting regulations.
This year, thecommission said it will speed up inspection of securities and fundmanagement firms, and focus on checking their financial security andpayment abilities, a move it said will help them restructure and boostefficiency. State-run groups and insurance companies and securitiesfirms benefiting from financial contributions from banks would be keyobjects of supervision, it added.
Assuring equity amonginstitutions and individuals in the stock market and protecting investorrights and assets will be important tasks, the SSC said./.
According to thecommission, the domestic stock market now has over 1,000 publiccompanies, nearly 700 listed companies, 105 securities companies, 47fund management firms and around 1 million accounts held by local andforeign investors.
The scale of management and inspection activities were therefore becoming broader and broader, said the commission.
"Togetherwith the development of the stock market, come new violations in themarket which are becoming more and more complicated, especially in thecontext that the market faces many difficulties," the commission wroteon its website.
"Thus, fortifying capacity in inspecting,supervising and treating violations related to securities and stockmarket laws will be a key task of the SSC in 2012."
Last year,the SSC issued 164 decisions on punishing violations by organisationsand individuals, with fines totalling almost 11 billion VND (523,800USD).
The SSC dealt with 63 cases that violated regulations oninitial public offerings and disclosure of information, and fined nineindividuals for trade fraud and market distortion. It also tackled 47cases of insider trading at listed firms and 11 cases of securitiescompanies violating reporting regulations.
This year, thecommission said it will speed up inspection of securities and fundmanagement firms, and focus on checking their financial security andpayment abilities, a move it said will help them restructure and boostefficiency. State-run groups and insurance companies and securitiesfirms benefiting from financial contributions from banks would be keyobjects of supervision, it added.
Assuring equity amonginstitutions and individuals in the stock market and protecting investorrights and assets will be important tasks, the SSC said./.
