HANOI, Sept. 26 (Xinhua) -- Vietnam will lower the number of its securities companies from 105 in 2012 to 81 in 2016 and 20 to 30 in the future, the Hanoi Stock Exchange said on Monday.
The move is aimed at enhance securities firms' operational quality, financial capability, corporate governance and risk management.
Vietnam plans to pass a new law on securities in late 2018 or early 2019, under which securities companies will have only two models, according to the country's stock market watchdog, State Securities Commission. First, they will function as investment banks. Second, they will engage in few business lines, not too many as currently.
Vietnam has two stock exchanges in Hanoi and Ho Chi Minh City.
