The State Securities Commission (SSC) has just held a conference on directing and operating in the first 5 months of 2022 and implementing key tasks in the coming time. Deputy Minister of Finance Nguyen Duc Chi chaired and moderated the conference.
Stock market has 2 weeks of positive recovery
Accordingly, in the first 5 months of 2022, the SSC has implemented assigned tasks such as: formulating legal documents according to the 2022 program; implementing projects related to the stock market; strengthen management and supervision of securities companies, fund management companies, securities offering activities, comply with obligations of public companies, strengthen inspection and improve compliance with regulations of audit firms, organize inspection and inspection teams, and strictly handle violations in accordance with law.
Regarding the stock market’s movements, following the trend in 2021, the Vietnamese market continued to grow during the beginning of the year, but then fluctuated in a downward trend in terms of scores, stock prices, and liquidity. … Along with the volatile trend of the world stock market and the psychological impact of some domestic factors, the VN-Index at one point dropped sharply to less than 1,200 points from the peak of more than 1,500 points. established in January 2022.
However, thanks to many positive and timely solutions of state management agencies, investor sentiment has improved and in fact, the stock market has had a rather positive recovery in the last 2 weeks. of May 2022.
Accelerate the testing of the KRX system and upgrade the market
Concluding the conference, Deputy Minister of Finance Nguyen Duc Chi acknowledged the results and efforts of the State Securities Commission in the first 5 months of the year, especially the drastic, timely and effective implementation of urgent measures to reassure investors’ psychology, support the stock market to soon stabilize again. As for the remaining points and limitations, it is necessary to quickly overcome and improve to ensure the market management and administration more effectively, creating conditions for the securities market to develop stably, through transparent, safe.
At the conference, the Deputy Minister said that the work tasks in 2022 of the SSC and other units are still very large, so they must continue to make efforts and set the highest determination to successfully complete the work plan set out since the begin of the year.
As for the stock market’s movements, although there has been a positive recovery in recent weeks and in the medium and long term, it is still supported by the macro fundamentals, as well as the internal factors of the market. market, but the general global context is facing many challenges and unpredictable fluctuations. Therefore, it is necessary to continue to closely monitor and strengthen forecasting to be more proactive in solutions to support the stable development of the stock market.
Also at the conference, Deputy Minister Nguyen Duc Chi also asked the units to focus on implementing from now until the end of 2022 and in the future.
The first, urgently review and study legal regulations and mechanisms and policies to promptly propose the Ministry of Finance to submit amendments and supplements to all levels in a timely manner, ensuring conformity with the actual development of the market. securities, especially over the past 2 years of Covid.
Monday, strengthen the management and supervision of activities of securities trading organizations, ensure that these organizations operate in a healthy manner and in accordance with the law, thereby promoting their active role as intermediaries. providing services and products on the stock market.
Tuesday, step up the supervision of the stock market, improve the role of monitoring at all levels, especially the frontline supervisory units to promptly detect transactions with abnormal signs. For supervision of public companies, continue to strengthen strict supervision on information disclosure, especially financial information, audited financial statements, as well as correct and enhance the quality of audit work. audits of organizations providing audit services. Review, supervise, inspect and take measures to promote and handle violations of enterprises that do not comply with regulations on equitization associated with listing/registering for trading on the stock market.
Wednesday, speeding up the testing process, soon completing the KRX information technology system to put it into operation, creating conditions for the deployment of new products and services for the stock market in the near future. The Vietnam Stock Exchange studies and perfects the system of supervision criteria, builds a warning system for securities transactions with abnormal signs; at the same time, research and propose to amend some criteria of VN30 index.
Thursday, Regarding the upgrade of the stock market, the State Securities Commission continued to complete the criteria, proactively proposed to the Ministry of Finance to discuss and work with relevant ministries, branches and agencies so that the Vietnamese stock market will soon be approved. consider upgrading from frontier to emerging market.
Friday, continue to strengthen the inspection, examination and handling of violations to ensure discipline and discipline in the stock market, when detecting signs of violations with criminal elements, it is necessary to be proactive and coordinate closely with the authorities to strictly handle violations in the market.
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