Reality shows that the supply of securities services of securities companies in Vietnam stock market has gained some notable successes. However, there still exist many problems which have negatively affected the healthy development of the market. These problems result from many reasons, including the limitations in state administration policies on securities services. Upon analyzing the activities of supplying securities services of securities companies to identify the positive and negative effects of the current policies on securities services from secondary information, the author suggests some solutions to creating more scientific and pratical grounds to help complete and enhance the state administration poIicies on securities service of Vietnam stock market.