Securities Commission "blows the whistle"

Recently, some securities companies have introduced a new form of real estate investment, which is to divide real estate into shares with capital starting from only 10,000 VND. Simply put, this form of investment is similar to investing in a type of stock.

Regarding this issue, the leaders of the Ministry of Finance and the State Securities Commission affirmed: This is a new model, the current securities law has not yet determined the type of real estate division into securities. Therefore, this form has many potential risks.

The form of "real estate subdivision" is a new model, the current securities law has not yet determined the type of subdivision of real estate into securities. (Photo: CC)

Mr. Bui Hoang Hai, Vice Chairman of the State Securities Commission, said: In some countries around the world , there are regulations related to controlling and limiting risks for this type of transaction, but in Vietnam there are no regulations.

"With the management function of the State Securities Commission, after receiving feedback about the securities company supporting real estate businesses in selling these certificates, we invited the securities company to work and requested to immediately stop distributing these certificates," said Mr. Hai.

Sharing more about this issue, Deputy Minister of Finance Nguyen Duc Chi said that the Ministry of Finance has also given instructions to the Securities Commission.

Mr. Chi affirmed that the law currently has no prohibitions, but from the perspective of a State management agency, the State Securities Commission has the responsibility to closely monitor the activities of securities companies.

"The provision of services by these businesses must be within the licensed business fields and industries. If they are outside this scope, they will have to stop so that management can make comprehensive assessments," Mr. Chi emphasized.

Source: https://www.congluan.vn/chia-nho-bat-dong-san-ban-co-phieu-gia-10000-dong-uy-ban-chung-khoan-tuyt-coi-post299864.html