Two New Securities Companies
The State Securities Commission (SSC) has approved, in principle, licensing the establishment of two new securities companies, namely Hoang Gia Securities JSC and Au Viet Securities JSC.
Hoang Giang Securities will provide stock brokerage, stock trading, stock investment consulting and stock custody services.
Au Viet Securities will provide stock brokerage, stock trading, stock underwriting, stock investment consulting and stock custody services.
Although the Law on Securities stipulates minimum chartered capital for a securities company is VND300 billion (US$18.75 million), the number of new securities companies is still rising. To date, 50 securities firms are in operation.
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