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Official Gazette

Thursday, October 28, 2021
Tags: securities market
Official Gazette issues Nos 109-110/2020 coming out on January 12 2021 Official Gazette issues Nos 109-110/2020, coming out on January 12, 2021
Eleven laws came into force from January 1 Eleven laws came into force from January 1
These include the Labor Code, the Invetment Law, the Enterprise Law, the Law on Investment in the Form of Public-Private Partnership, the Securities Law, the Youth Law, the Law on Mediation and Dialogue at Court, among others.
New requirements on information disclosure on securities market New requirements on information disclosure on securities market
From January 1, 2021, entities obliged to perform information disclosure include public companies; bond issuers; institutions carrying out initial public offering (IPO); corporate bond-listing institutions; securities companies and securities investment fund management companies; Vietnam-based branches of overseas securities companies and investment funds; Vietnam-based representative offices of foreign securities companies and fund management companies; and public funds and public securities investment companies, among others.
Public companies no longer allowed to decide on foreign holding caps Public companies no longer allowed to decide on foreign holding caps
The State Securities Commission has recently proposed abolishing a regulation permitting public companies to provide the maximum foreign ownership rate in their company charters. 
Ministry switches green light for secured short sale intraday transactions Ministry switches green light for secured short sale, intraday transactions
Investors would be allowed to perform secured short sale and intraday transactions in the near future when technical conditions permit, according to a draft circular to replace Circular 203 of 2015 regarding transactions in the stock market.
Securities violators to face heftier fines Securities violators to face heftier fines
The Ministry of Finance has proposed a maximum fine of VND 3 billion (USD 130,000) and VND 1.5 billion (USD 65,000) for organizations and individuals, respectively, committing securities-related violations.
Six important changes in the new Enterprise Law Six important changes in the new Enterprise Law
Compared with its previous versions, the 2020 Enterprise Law contains breakthrough changes, aiming to build a legal framework on corporate governance up to good and common practices in the region and the world; boost the development of businesses, attract capital for production and business activities; and contribute to improving Vietnam’s business environment to the level of ASEAN-4 countries.
New revised Securities Law available on Official Gazette issues Nos. 136-144 of 2019 New revised Securities Law available on Official Gazette issues Nos. 136-144 of 2019
Adopted in late 2019 with many new changes, the amended Law on Securities, available on Official Gazette issues Nos. 136-144 of 2019, is expected to make a positive impact on the Vietnam’s stock market.
Corporate liability for offenses against the economic management order in Vietnam Corporate liability for offenses against the economic management order in Vietnam
The 2015 Penal Code (revised in 2017) (the Code) is Vietnam’s first and only code that holds commercial legal persons criminally liable for committing criminal acts. This is a breakthrough in the country’s criminal justice policy and leads to a substantial change in the general perception about crime and punishment. It also applies various penalties to commercial legal persons found liable for crimes[1], including three principal penalties (fine, suspension from operation, and termination of operation), three additional penalties (prohibition from doing business or operating in certain areas, prohibition from raising capital, and fine, when not imposed as a principal penalty), and five judicial measures (confiscation of objects and money directly related to the crime; return of property, redress of or compensation for damage; coerced public apology; coerced restoration to the original state; and coerced application of measures to redress and prevent further consequences).
Intl accounting rules compulsory after 2025: draft Int’l accounting rules compulsory after 2025: draft
The adoption of International Financial Reporting Standards (IFRS) will be compulsory for State-owned enterprises (SOEs), listed companies and large-scale unlisted public companies after 2025, according to a draft project the Ministry of Finance recently made public for comments.

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