USAID trains securities regulators

Thursday, May 22, 2008
The US Agency for International Development (USAID) will continue providing training courses for the professional staff of the State Securities Commission, the commission said on its website yesterday.

The courses will focus on improving the commission’s supervisory capacity in order to promote the transparency of the domestic stock market.

Commission chairman Vu Bang said, "Transparency plays an important role in market development. As market regulators, we will try hard to build this quality by tightening our supervision of trading activities on the market."

He said that the USAID training was a basis for better supervision in the future.

The US office would also help the commission complete the legal framework governing the stock exchange by co-operation with the State Securities Commission on proposed revisions to regulations in the Law on Securities.

"Along with an analysis of the actual situation on the stock market, we will work together to complete the legal framework soon to adequately meet international standards," Bang said.

He said that co-operation with USAID would contribute to making the stock market a more effective channel for the mobilisation of capital. (VNS)