Some Restrictions on Branches of Foreign Securities Companies in Vietnam

Pursuant to Article 91 of the 2019 Securities Law (Effective January 1, 2021), certain restrictions are imposed on branches of foreign securities companies in Vietnam as follows:

- They are not allowed to provide assessments or guarantees to clients about the level of income or profit achieved on their investments or to guarantee that clients will not suffer losses, except in the case of investing in fixed-income securities.

- They are not allowed to disclose information about clients, except with the client's consent or upon the request of the competent authority.

- They may not engage in behaviors that mislead clients and investors about securities prices.

- The branch of the foreign securities company in Vietnam must conduct business activities and provide securities services under its own name; It is not permitted to use the name of another organization or individual, nor to allow another organization or individual to use its name to conduct business or provide securities services.

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