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Deputy Finance Minister: Restructure capital market to avoid manipulation

Mr. Nguyen Duc Chi said that the Ministry of Finance will restructure the stock market, increase bond market standards… to avoid risks and manipulation.

This information was emphasized by Deputy Finance Minister Nguyen Duc Chi at the Government press conference on the afternoon of April 29, when answering about responsibilities and solutions to protect investors against stock price manipulation cases, issuance violations. corporate bonds in FLC, Tan Hoang Minh, Louis Holdings

Recalling the Prime Minister’s point of view that “do not criminalize economic and civil relations”, according to Mr. Chi, handling cases of manipulation violations is necessary to avoid market manipulation, help the healthier capital market.

At this point, the supervision of the stock market will be tightened by the Ministry of Finance at three levels, at securities companies, the Stock Exchange and the Securities Commission. The ministry also increased the frequency of inspection of public and non-public companies when raising capital… to promptly detect and enforce risks in the market.

The stock market will also be restructured in the direction of increasing the quality of goods, increasing the quality of securities companies, fund management companies…





Mr. Nguyen Duc Chi, Deputy Finance Minister.  Photo: Ministry of Finance

Mr. Nguyen Duc Chi, Deputy Finance Minister. Photo: Ministry of Finance

Particularly for the bond marketleaders of the Ministry of Finance said that they will check and correct mistakes in information disclosure, capital use and financial statements of issuers.

“If violations are detected, they will be strictly handled, including irresponsible independent audit units to make mistakes in the audit of financial statements of bond issuers,” stressed the Deputy Finance Minister. strong.

This agency will also review and set market standards, clearly separate public bonds and private bonds.

“We will review the Law on Securities and the Law on Enterprises and soon submit to the Government to amend Decree 153 on the issuance of private corporate bonds, ensuring that the market’s legal regulations are in line with practical requirements and avoid exploitation and violations by groups of investors,” said Mr. Chi.

With solutions to tighten the market, Mr. Chi believes that “will soon establish a transparent stock and bond market and regain investor confidence”.

The authorities’ handling of a number of violations related to the corporate bond market, especially the Group case Tan Hoang Minh canceled 9 lots of bonds worth more than 10,000 billion VND and the message from Prime Minister Pham Minh Chinh about fixing the bond market, land auction and securities shows the determination to “reform” this market.

Mr. Minh

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