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Many social network accounts post analysis and recommendations to buy and sell stocks without a license. The State Securities Commission said it had sanctioned violations and advised investors to verify the source of information before deciding to trade. Download SSC warns of illegal online securities consulting. On April 17, the State Securities Commission (SSC) issued a notice stating that on social networking platforms, a number of organizations and individuals appeared to conduct market analysis, use technical indicators, and at the same time make recommendations related to buying, selling, and holding stocks. However, these organizations and individuals are not securities companies or securities investment fund management companies, are not licensed by the State Securities Commission to perform investment consulting operations, and do not operate within the scope of authorization of licensed units. According to the provisions of Clause 4, Article 12 of the Securities Law, doing business and providing securities services without a license is strictly prohibited. Therefore, issuing analysis reports and investment recommendations without a license is a violation of the law. Recently, based on the results of supervision and coordination with the functional forces, the State Securities Commission issued a decision to sanction administrative violations against ITP Investment Joint Stock Company. This business has posted on its website analysis reports of a number of stock codes, evaluated the businesss operations, and made recommendations to buy, sell, and hold securities for customers without a license. In addition to sanctions, the State Securities Commission also applied measures to ensure security and safety of the stock market for this business, including banning some activities related to the securities sector. Investors need to be careful when participating in the market. market, especially when accessing information on cyberspace. Investors need to verify the source of information, avoid being enticed to invest from unverified content on social networks or groups. At the same time, organizations and individuals who provide analysis reports and investment recommendations without being licensed will be handled according to regulations, the State Securities Commission advised. Mr. Minh See more: The State Securities Commission is working with FTSE Russell on the next step after upgrading the stock market. See moreUpgrading is just the beginning: Vietnamese stocks enter a long-term game See moreOfficially confirming the upgrade roadmap for Vietnams stock market See moreStocks enter a new phase: Higher requirements for investors
