Fraud and cheating will be strictly dealt with.

On October 8, the State Securities Commission (SSC) held a Workshop to contribute opinions on the content of amending and supplementing a number of articles of the Securities Law.

After more than 3 years of implementation, the 2019 Securities Law and its detailed implementing documents have created a relatively complete, synchronous, and unified legal framework to comprehensively regulate securities and market activities.

However, Chairwoman of the State Securities Commission Vu Thi Chan Phuong commented that, in addition to positive results, the rapid development of the market has caused some shortcomings and problems in the implementation of the Law that need to be considered, amended, supplemented and improved soon.

Chairwoman of the State Securities Commission Vu Thi Chan Phuong speaks at the workshop.

Therefore, three basic contents were amended and supplemented in the Securities Law to promptly remove urgent difficulties and problems in practice, better protecting the rights and legitimate interests of subjects participating in the securities market.

Firstly, amend and supplement a group of regulations to improve transparency and efficiency in securities issuance and offering activities.

Second, amend and supplement regulations to strengthen supervision and strictly handle fraudulent and deceptive acts in securities issuance and offering activities, clearly define the responsibilities of relevant organizations and individuals, and ensure effective prevention and handling of violations in the securities market.

Third, amend and supplement a group of regulations to remove practical obstacles, promote the development of the stock market with the goal of upgrading the stock market, specifically perfecting the legal basis to carry out clearing and settlement activities for securities transactions on the market according to the central clearing counterparty (CCP) mechanism on the Vietnamese stock market.

Ms. Phuong emphasized that the completion of securities laws has always been of interest to the Party, the National Assembly, the Government, and the Prime Minister, and has been closely led and directed to promote the sustainable development of the securities market, contributing to creating a driving force for growth, controlling inflation, and stabilizing the macro-economy.

Due to the rapid development of the market, a number of shortcomings and problems have arisen in the practical implementation of the Law that need to be reviewed, promptly amended, supplemented and improved to promptly overcome limitations and risks in market operations.

Thereby, contributing to further improving the effectiveness and efficiency of state management of securities and the securities market, while creating favorable conditions for enterprises to participate in the market and mobilize capital to serve production and business development.

Source: https://www.nguoiduatin.vn/sua-luat-chung-khoan-se-xu-nghiem-cac-hanh-vi-gian-lan-lua-dao-204241008161819818.htm