The State Securities Commission requests timely prevention if any unusual behavior is detected.

Strengthening control of unusual transactions in the market

In response to the recent fluctuations in the stock market, the State Securities Commission has issued a document to the Vietnam Stock Exchange (VNX), Ho Chi Minh City Stock Exchange (HOSE), Hanoi Stock Exchange (HNX) and Vietnam Securities Depository and Clearing Corporation (VSDC). Accordingly, it requires strengthening supervision, proactively detecting and handling transactions with signs of abnormality.

According to the State Securities Commission, recently, the exchanges have implemented many monitoring measures, but in the context of the market having unusual fluctuations in indexes and trading volume, stronger intervention from market operators is needed.

Specifically, the Stock Exchanges need to closely monitor stocks with sharp price fluctuations compared to the general market level or compared to stocks in the same industry.

At the same time, it is necessary to carefully review information spread in newspapers, social networks, forums, and groups related to stock codes that are of particular interest to investors or show signs of manipulation.

In case of detecting unusual transactions, the exchanges need to conduct analysis and evaluation, then report to the State Securities Commission and propose appropriate solutions. In addition, VNX is also assigned the task of directing market members to strengthen supervision at the front line, closely monitor the trading developments during the day and for many consecutive days for investors who have just opened accounts or have large volume transactions at the unit. Timely detection of signs of violations of securities trading regulations will help the State Securities Commission have the basis to make accurate and quick handling decisions.

Along with that, the State Securities Commission requested VNX to coordinate with HOSE, HNX and VSDC to ensure that trading, clearing and payment activities take place safely and smoothly. The technical system needs to be maintained stably to avoid disruptions that affect investor sentiment and market cash flow.

On the side of the Vietnam Securities Depository and Clearing Corporation, the State Securities Commission (SSC) requires continued close monitoring of clearing and settlement activities, especially the monitoring of position limits and transactions using leverage such as margin. When detecting unusual signs, VSDC must proactively collect relevant information and documents to report to the SSC and notify VNX, HOSE, and HNX for synchronous handling.

Closely monitor compliance and attach responsibility to securities companies

Not only focusing on the market operation system, the State Securities Commission also issues documents to securities companies.

Firstly, companies must strictly comply with legal regulations in conducting securities business activities, providing securities services; strictly comply with regulations on borrowing and lending for margin trading and other relevant legal regulations.

Second, companies must be responsible for managing the activities of employees and securities practitioners working at the company. Continue to strengthen the management and supervision of employees and practitioners to ensure compliance with securities laws; do not allow employees and securities practitioners of the company to commit the following acts: attract and invite people to participate in forums and groups to advise on securities investment in violation of the law; directly or indirectly solicit customers to buy and sell securities, provide false information, causing misunderstanding to customers; give opinions on the increase or decrease of securities prices without basis; agree or make commitments on specific profits or agreements to share profits/losses with customers; commit acts that violate the law and professional ethics.

Third, the State Securities Commission requires companies to fully perform their obligations and responsibilities as trading members according to regulations; closely monitor compliance with legal regulations on securities transactions of individuals and organizations that are customers of the company; actively and proactively coordinate with the State Securities Commission, Stock Exchanges, Vietnam Securities Depository and Clearing Corporation in monitoring, inspection and examination activities. In case of detecting transactions with signs of violating regulations on securities transactions, promptly report to the Vietnam Stock Exchange and subsidiaries, and at the same time report to the State Securities Commission for handling according to regulations.

Huy Thang

Source: https://baochinhphu.vn/ubcknn-yeu-cau-kip-thoi-ngan-chan-neu-phat-hien-hanh-vi-bat-thuong-102250806225023157.htm