By VIET NAM NEWS
ASIA NEWS NETWORK
The move is part of a new draft circular by the finance ministry, aiming at guiding the supervision of securities trading on the two national stock exchanges.
According to the draft, the SSC will draw up and develop annual surveillance plans for securities transactions.
Under the plans, the national stock exchanges together with the Securities Depository Centre, trading members and other sources of information will be responsible for submitting weekly and monthly reports to the SSC on the supervision of securities transactions.
Based on the reports, the SSC will carry out actions to prevent, detect and handle trading acts manipulating the stock market and other violations of regulations on securities trading.
The SSC will also monitor stock transactions of investors to detect abnormalities that may affect the confidence of investors.
Regarding abnormal transactions, the bourses must send reports on them to the SSC within 24 hours of detecting the cases.
For other cases, the stock exchanges have to assess each case and propose a plan to handle them.
The draft also stipulates that the Securities Depository Centre has the right to request organisations and individuals under their management that engage in derivatives trading to provide information for the supervision plan.
Whenever they detect abnormal signs in payments or signs of insolvent investors, the Securities Depository Centre must notify the SSC and the stock exchanges in a timely fashion.