|
Fund management board set up
The State Securities Committee (SSC) has decided to establish a fund management board and prepare for the debut of a supervision board.
Accordingly, the Fund Management Board will be responsible for coordinating with other SSC units in building legal documents relating to the operation of fund management companies and their representative offices.
It will also be in charge of assessing applications for establishment as well as supervising and controlling these intermediary organisations’ operations.
Meanwhile, the Supervision Board will be responsible for building legal documents relating to the supervision of the implementation of regulations and laws on securities and stock market, and overseeing the market’s daily happenings to timely discover unusual transactions.
According to the SSC, the establishment of the two boards aims to meet the stock market’s increasing demand when the number of members of both the Ho Chi Minh City and Ha Noi bourses tripled the figure of late 2006 to 267 with nearly 100 intermediary organisations and around 300,000 investors.
VNA
|
