According to the leadership of the State Securities Commission (SSC), English version of legal documents on securities and relevant regulations will be soon published on the SSC’s website in order to provide foreign investors with an easier access to the Vietnamese stock market and help them save time and expenses for legal consultancy and translation services.
As current regulations do not require listed companies to disclose information in English, foreign investors may face considerable risks, especially in cases listed companies’ bank accounts, their operation licenses are revoked or their leaders are criminally accused, and find it very difficult to make prompt decisions to protect their legitimate benefits.
SSC is expeditiously preparing conditions for publishing on its website in June or July all securities regulations of foreign investors’ interest as well as information on operation of listed companies.
As suggested by foreign investors, when revising Circular No. 52/2012/TT-UBCK dated April 5, 2012, guiding information disclosure on the securities market, and relevant regulations, the SSC should encourage or even obligate listed companies to disclose their information both in Vietnamese and English, especially information on change of key leaders, merger and acquisition, profit increase or decline, etc.
However, for the near future, only companies having a large capitalization level or conducting business or investment with foreign parties or drawing great interest of foreign investors will be subject to such disclosure requirement.-