In any case, may the securities company not suspend its operations in Vietnam?

In any case, may the securities company not suspend its operations in Vietnam?

Pursuant to Point a, Clause 1, Article 87 of the Securities Law 2019 stipulates as follows:

1. A securities company or fund management company shall obtain a written approval of SSC before initiating the following operations:

a) Suspension of operation, except for force majeure events;

b) Offering and listing securities of the company overseas;

Thus, in case it is not due to force majeure events that the State Securities Commission of Vietnam has not approved in writing, the company may not suspend its operations. Therefore, if the force majeure events are still suspended.

Is a foreign bank branch applied for securities depository registrations in Vietnam?

Pursuant to Clause 1, Article 57 of the Securities Law 2019 stipulates as follows:

1. A commercial bank or FBB may apply for securities depository registration when it:

a) has the license for establishment and operation in Vietnam which allows provision of securities depository services;

b) has satisfactory capital adequacy ratios prescribed by banking laws and has profit in the last year; and

c) has the premises and equipment serving the depositing and payment of securities.

Thus, according to the above provisions, a foreign bank branch may register securities depository activities in Vietnam but must meet the above conditions.

Which cases is forced to suspension the securities offering in Vietnam?

Pursuant to Clause 1, Article 27 of the Securities Law 2019 stipulates as follows:

1. SSC is entitled to suspend a public offering for up to 60 days in the following circumstances:

a) The public offering application contains inaccurate or inadequate information that might affect investors’ decisions and cause damage to investors;

b) The securities are not distributed in accordance with Article 26 of this Law.

Above are the cases of suspension of offering securities to the public according to the latest regulations in Vietnam.

Best Regards!