The State Securities Commission has ordered that stock
brokerages must comply by October 1 with the Ministry of Finance
regulation requiring investor capital to be held in commercial bank
accounts, not in accounts controlled by the brokerages.


Ministry of Finance Decision No 27/QD-BTC of last year
provided that securities companies were no longer allowed to hold
client funds and mandated the companies to designate commercial banks
as fiduciaries for client funds.


The securities companies were also required to
announce the designated banks providing payment services within three
days of signing contracts.


The State Securities Commission stated that nine stock
brokerages have complied to these rules, including Gia Quyen, Ban Viet,
Kim Eng, ACB, Au Lac, Sai Gon-Ha Noi, Viet, Dong Duong and Sen Vang
securities companies.