4:15:02 PM | 5/9/2008
The State Securities Commission (SSC) is working on a draft regulation allowing securities investors to open more than one account and both buy and sell the same shares in a single day's session.
The draft that will be submitted to the government for approval has stirred up conflicting opinions.
At present, an investor is permitted to hold only one account in a securities firm and place only one buying or selling order of a certain share in a trading session through that account.
Nguyen Son, head of the Market Development Department under the SSC, said the regulation, once operational, would help spur trade and balance capital flow in the stock market.
The new regulation, though being expected to spur trading and raise liquidity, may lead to price manipulation in the market, stock analysts said.
Chairman of SSC Vu Bang said the commission would regulate the stock market to prevent price setting and other securities investment violations. "Violators will receive stricter punishments," added Bang.
Meanwhile, securities firms said a modern technical system and understanding of customers’ financial health could help market regulators detect violators. (VNS, Securities Investment)
Vietnamese
