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Securities supervisor monitors first firms
The Stock Market Supervision Department, under the State Securities Commission (SSC), will start supervising two securities firms this month, as part of SSC’s mission to oversee the development of the stock exchange.
The securities firms chosen were APEC Securities and Sacombank Securities.
According to a representative from the Stock Market Development Department, the two firms were selected to be supervised first based on good performance.
”The supervision is to ensure investors’ benefit when they receive securities services from companies,” the representative said, noting that supervision will continue to be carried out regularly.
Supervisors plan to test all procedures of trade carried out in securities firms, from account opening to trading.
We will make sure securities firms reduce their mistakes during trading as much as possible to ensure investors’ interests, and to help securities companies attract more customers,’ the representative said.
According to Nguyen Son, head of the SSC’s Stock Market Development Department, the supervision should improve securities firms operation as remote trading is in the process of being implemented, expected to be up and running by this summer.
The Stock Market Supervision Department was established in February to set up the legal documentation for market supervision. The department began its work on March 3.
The department supervised all activities by stock exchanges, listed companies and investors.
VNA
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