ADMINISTRATIVE PENALTY FOR ABUSE OF THE STOCK MARKET

  • Kiều Hữu Thiện
  • Dương Thị Phượng

Abstract

1.Concept on abuse of stock market

     Any act that uses an unannounced information to the public, distorts mechanism of financial tools, and gives misleading news at the expense of other investors and fairness of the market, will be regarded as market abuse.

    There are two main types of market abuse: transaction from internal source and market control.

2. The status of abuse of stock market in Vietnam

    In Vietnam’s stock market abuse has two features (1) Transaction from internal source in such cases as FBT and XMC shares; and (2) Transaction that controls share prices in such cases as CCm and AMV shares.

3. Limitations and challenges in dealing with abuse of Vietnam’ stock market

    (1) Supervisors don’t have an access to information that is under the management of other ministries or agencies; (2) Difficulty in identifying the violations; (3) Inappropriate investment; (4) Market abuse is so sophisticated that is difficulty to identify; (5) Violators have become more experienced.

4. Solution to the mansgment of stock market in the coming period

- Working out mechanism of inter-ministerial and inter-agencies coordination to supervise the stock market.

- Listing the specific acts related to market abuse.

- Buiding and applying the automated supervision system of the State Securities Commission and Securities Transaction Offices.

- Convincing investors not to follow unofficial and unreliable sources that may harm their interests./.

điểm /   đánh giá
Published
2013-06-20
Section
Finance - Monetary