There should be regulations to closely monitor the securities business

	Amending the Securities Law in order to develop the market in depth
	Amending the Law on Securities: the Charter capital under 30 billion dong is not participated IPO
	Revised Law on Securities: Administrative violation may be fined VND 3 billion

Mr. Nguyen Thanh Ky.

Dear sir, the revised draft Law on Securities has just been announced by the State Securities Commission (SSC) for comments on fundamental changes towards a transparent market. What is your assessment of this draft?

The draft Law on Securities was carefully prepared by the Ministry of Finance and the State Securities Commission. The most remarkable point is the raising of inspection and supervision power of the State Securities Commission. This will create the transparency and honesty of the market and make the market surveillance by the competent authorities more effective.

Besides, the separation of operating license with the business registration certificate of the securities companies is one of the highlights of the draft. This has created a new position and transparency in the operation, especially for the specialized characteristics of the securities industry.

I think this content has changed and amended the basic contents of the Law and complied with international practice. This is an important "root" for market development.

The draft Law on Securities is in the development process, which requires comments. From a specialist perspective, do you have any suggestions for this draft, sir?

The first issue is about raising the power of the SSC. The draft does not highlight this issue, although it is an importance to create a position for the SSC in accordance with international practice.

The second issue is the ethics. It can be said that securities is a very special industry, so it is necessary to add regulations to increase the role of securities companies and investors as well as strict monitoring in business activities of the industry. I think it should be amended and included as a separate clause in the draft.

The requirement needed is for close monitoring of this special industry. Otherwise it will lead to bad consequences thereinafter to the market.

Amendment of Securities Law: Towards a sustainable and transparent market VCN- With the change in both quantity and quality of the stock market in Vietnam, the amendment ...

As expected, in 2019 the National Assembly will discuss and approve the revised draft Law on Securities. In your opinion, if the Draft is formally approved and put into practice, how will it help the market?

It can be said that this is a "lever" that promotes the activities of the most potential and powerful channel of capital mobilization and creates a position for the securities market in particular and the capital market in general. I hope that this law is adopted put into operation soon to help Vietnam securities market develop and operate more strongly.

Thank you Sir!