At first,investors could only sell existing stock and were not permitted to sellthe same stock the same day, said Nguyen Son, the head of the SSC’sStock Market Development Department.
According to Vietnam ’sregulations, investors could only open a trading account and were notallowed to buy or sell the same stock the same day. However, manyinvestors found loop-holds to open more accounts in different names ortraded by proxy, making it difficult for State agencies to manage andcontrol accounts, transactions and stock prices, said Son in aninterview with the Vietnam Financial Times.
So, easing theregulations not only solves problems in trading and improves the marketsliquidity, but also enables the securities transaction office and theSSC to control and make ownership transparent, added Son.
Vietnam ’s securities market has experienced 10 years of operation andthe original regulations needed to change in line with internationalrules to ensure management and control to prevent market speculation.
Themove is expected to not only ease investors’ operations, but will alsomake it easier for securities companies to trade and develop themarket, bringing Vietnam securities closer to internationalregulations./.