Finance Minister: Listed Corps Must Reconfirm Wrong Info within 24 Hours
The Finance Ministry of Vietnam issued a circular ordering listed companies to correct wrongly-posted information that may affect stock price within 24 hours, state media said.
Under the circular, company director, general director or proxy are allowed to deliver information and are fully responsible for the content.
MoF’s move aims to restrict and clean up insider trading, which was denounced recently.
Listed companies, bonds issuers, securities companies, mutual funds, securities-investing firms, securities exchange departments or securities centers and involved individuals will have to establish electronic information portals to update frequently.
According to the State Securities Commission, the Government may delay increasing foreign ownership limits in joint stock companies.
In addition, the SSC will also scrutinize securities companies in terms of inside trading, order placements, custodian, as well as tighten control over financial reports of listed companies.
Vietnam’s stock market Wednesday closed at 935.48, 11.59 points higher than the previous session, with 4 million shares traded, valued at VND547 billion, after the six-week correction. (VNA, VSE)
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