SSC halts securities company establishment

Saturday, April 26, 2008
The State Securities Commission (SSC) will temporarily halt receiving new applications for the establishment of securities and fund management companies as from April 28.
The SSC explained that the move aims to ensure sustainable development for the fledgling stock market in the country.
While lauding securities and fund management companies’ positive contributions to the growth of the stock market, the SSC also said these companies need to have their operation reassessed in a bid to raise the quality of their services.
The stock market watchdog also said it will later announce the date for receiving new applications. (VNA)