There must be stricter sanctions for violations in the securities sector
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- Business
- 14:25 12/04/2022
DNHN - Deputy Minister of Finance Nguyen Duc Chi directed the State Securities Commission to coordinate with functional units, early detect and promptly correct violations in the securities sector.
On April 6, the Ministry of Finance held a meeting to discuss the work of the first quarter of 2022 and deploy the tasks of April 2022. Minister of Finance Ho Duc Phuc chaired the Conference. Attending the conference were Deputy Minister Vu Thi Mai, Deputy Minister Nguyen Duc Chi and representatives of leaders of functional units under the Ministry of Finance.
Notably, Deputy Minister Nguyen Duc Chi requested that the State Securities Commission provide an urgent report to the Ministry on the declaration of measures to assist listed firms experiencing difficulties as a result of the outbreak. Additionally, adopting methods to improve the quality of auditing financial statements of businesses; organizing inspection and supervision of securities firms and independent auditing firms, enforcing compliance firmly (if any).
Simultaneously, the Deputy Minister requested a review of regimes and rules, as well as stiffer penalties for infractions. Additionally, Deputy Minister Nguyen Duc Chi stated that the SSC must communicate with functional units in order to quickly discover and correct securities sector irregularities.
Minister Ho Duc Phuc also proposed that functional units within the Ministry do a thorough review and closely monitor market conditions in order to develop an appropriate management strategy.
Additionally, the Minister suggested that the entire finance sector should concentrate on a number of critical tasks, including: perfecting legal institutions; adhering to fiscal policy objectives; maintaining the stock market; focusing on information, propaganda, and dissemination of legal policies; strengthening inspection and examination; concentrating on information technology development, particularly digital transformation and administrative procedure reform; and completing internal projects. Personnel organization must be swift, accurate, and timely in order to meet the criteria of assigned responsibilities.
Bao Anh
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