There is a phenomenon of taking advantage of the stock market to launder money

Giving comments to the Minister of Finance Ho Duc Phuc on the morning of June 8, delegate Tran Van Lam (Bac Giang) asked the minister to assess the extent of the bubble in the economy. stock market our country today.

He also suggested that what tools and indicators are there to identify and evaluate the nature and extent of the stock bubble, and what solutions are available to help our country’s stock market develop stably and sustainably in the future. next time.

Minister of Finance Ho Duc Phuc said that our country’s stock market has made very good progress, however, in recent times, there have been a number of securities manipulation phenomena such as stock manipulation or disclosure of information. misleading, deceiving customers, speculating on bonds… However, these are personal mistakes.

“We have warned investors, submitted to the Government to amend Decree 153 and strengthen solutions for transparency in the securities and corporate bond markets.“, stressed the Minister.

He stated that the bond market is a medium- and long-term capital mobilization channel and together with credit ensures resources for the economy. economy develop. Countries have more than 500 years stock market, we are 22 years old.

“There was a manipulation incident recently. That is a personal act, creating many accounts to entice and then suddenly sell it, when selling without reporting to the state management agency…

Corporate bonds are also issued with false information. These things violate the economic order, the Law on Securities… must be dealt with seriously“, Mr. Phuc affirmed.

Also according to Minister Ho Duc Phuc, the Ministry has made many moves to warn securities investors in recent years.

Specifically, on September 1, 2021, a request was issued to the Securities Commission and inspection agencies. On April 1, 2022, this agency inspected independent auditing companies of securities companies, from which many violations were detected, transferred to the agency to investigate 34 cases, administratively sanction 568 cases, with amount of more than 29 billion. Phuc said that this is also a step to make the stock market healthy.

“However, officials of the Ministry of Finance are also responsible for mistakes in the stock market. We have dismissed 2 leaders, warned 2 officers, reviewed many others, including the Chairman of the Securities Commission, the General Director of HOSE was dismissed..,” said Mr. Phuc.

Phuc also added that, through inspection, the Ministry of Finance also discovered many violations, including cases of taking advantage of the stock market to launder money. The Ministry of Finance has transferred it to the investigating agency for strict handling.

In the coming time, the Ministry will continue to strengthen the organization of inspection and examination of issuers and businesses Securities Company Service Provider; associate with State bank in managing and supervising the issuance, investment and service provision of individual corporate bonds by credit institutions.

The Ministry of Finance will continue to closely coordinate with police agencies in verifying, investigating and handling manipulation cases, coordinating in handling false and untrue rumors, and providing information to the public. police agencies when there are suspicious signs during the inspection and examination.

In addition, the Ministry also synchronously reviews from law to decrees and guiding documents to enhance information transparency, ensure the legitimate rights and interests of market participants.