Artex Securities (ART) Gets SSC Approval to Resume Margin Lending

Overview

The State Securities Commission (SSC) has approved Artex Securities Corporation (ART) to resume providing margin lending services to clients, a critical milestone for the brokerage linked to Trinh Van Quyet’s FLC ecosystem. The company also restored its ability to buy securities on HoSE and HNX from March 10, 2026, following a period of special control after the market manipulation case involving the FLC group.

Key Facts

• On May 7, 2026, the SSC issued Decision No. 257/QD-UBCK approving Artex Securities to offer margin lending and advance proceeds from securities sales.
• Artex was previously known as BOS Securities and reverted to its original name Artex in July 2025.
• The company was placed under special control after the market manipulation case involving the FLC ecosystem and was removed from that status at the end of February 2026.
• Artex restored its ability to buy securities on HoSE and HNX effective March 10, 2026.
• The company has outlined a development roadmap for 2026-2028, focusing on financial stability, client growth, and brokerage expansion in 2026.
• For 2027-2028, Artex plans to increase market share and raise charter capital to enhance competitiveness.

What Happened

On May 7, 2026, the State Securities Commission issued Decision No. 257/QD-UBCK, granting Artex Securities permission to provide margin lending and advance securities sale proceeds to clients. This decision effectively lifts a key restriction on the brokerage’s operations, which had been under special control following the market manipulation scandal involving the FLC ecosystem led by Trinh Van Quyet.

Artex had already been removed from special control status at the end of February 2026 and restored its ability to purchase securities on the Ho Chi Minh City Stock Exchange (HoSE) and Hanoi Stock Exchange (HNX) from March 10, 2026. The company is now gradually returning to normal operations, aiming to protect investor interests and reactivate core business segments.

Market Context

Artex Securities (ART) is listed on the Ho Chi Minh City Stock Exchange (HoSE). The stock has been under pressure since the FLC-related market manipulation case, with trading restrictions limiting its ability to generate revenue. The restoration of margin lending and securities buying is a significant step toward normalizing operations, though the company still faces challenges in rebuilding client trust and market share. The broader Vietnamese securities sector has seen increased regulatory scrutiny, but the SSC’s approval signals a measured easing of restrictions for Artex.

Strategic Significance

For long-term investors, the SSC’s approval marks a turning point for Artex, allowing it to resume a core revenue-generating activity—margin lending—which is essential for brokerage profitability. The company’s 2026-2028 roadmap emphasizes financial stabilization and client acquisition, which are critical for recovery. However, the lingering reputational damage from the FLC case may slow client growth. The ability to raise charter capital in 2027-2028 will be key to competing with larger securities firms.

What to Watch

• Artex’s quarterly financial reports for 2026 to assess revenue recovery from brokerage and margin lending.
• Any further regulatory actions or investigations related to the FLC ecosystem that could impact operations.
• The company’s progress in raising charter capital as outlined in its 2027-2028 plan.
• Changes in client account numbers and trading volume on HoSE and HNX.
• Potential management or board changes as part of governance restructuring.