Verify, clean stock trader data, Deputy PM tells finance ministry
Deputy Prime Minister Tran Luu Quang on Saturday asked the Ministry of Finance (MoF) to direct the review, verification and cleaning of securities traders’ data, including information about relatives engaging in transactions.
He said the ministry should instruct the State Securities Commission, stock exchanges, and the Vietnam Securities Depository and Clearing Corporation (VSDC) to link the national database on population with electronic identification and authentication systems.
Implementation results must be reported to the Prime Minister before November 30, 2023, Quang said
Cleaning user data involves comparing user information with the national database on population to ensure a match and eliminating false, duplicate or bogus data.
The total number of Vietnamese investor accounts exceeded 7.6 million, or nearly 8% of the population by August 31, 2023. Photo courtesy of CafeF.
The Deputy PM’s directions have been given in the context of several entrepreneurs recently arrested for alleged stock market manipulation by using multiple accounts to trade, pushing stock prices up sharply, causing serious consequences.
Among those were former FLC chairman Trinh Van Quyet and accomplices with the stocks in the FLC family, Do Thanh Nhan with the Louis ecosystem’s tickers, and Nguyen Do Lang with APEC stocks.
According to the Vietnam Securities Depository (VSD), as of August 31, 2023, the total number of Vietnamese individuals' accounts exceeded 7.6 million, equivalent to nearly 8% of the population. Foreign investors had opened 44,431 accounts.
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