05 information disclosure rules on Vietnam’s securities market

According to Article 4 of the Circular No. 96/2020/TT-BTC of the Ministry of Finance of Vietnam, 05 information disclosure rules on securities market include:

1.  Information disclosed must be adequate, accurate and timely. An individual’s personal information, including citizen identity card, ID card, military ID card, unexpired passport, contact address, permanent address, telephone number, fax number, email, number of securities trading account, number of securities depository account, number of bank account, and trading code of foreign investor or business entity of which over 50% of charter capital is held by foreign entities, shall be disclosed if agreed by that individual.

2. The disclosing entities are legally responsible for the information they disclose. In case of changes to disclosed information, the disclosing entity shall promptly and adequately disclose the changes and reasons for those changes.

3. When disclosing information, the disclosing entities mentioned in Article 2 of this Circular shall simultaneously send reports on information disclosure, including adequate information as prescribed, to the State Securities Commission (SSC) and Stock Exchange (SE) at which the securities are listed or registered. In case the information disclosed includes the personal information mentioned in Clause 1 of this Article and the disclosing entity refuses to disclose the personal information, 02 documents, including a document containing adequate personal information and other that does not contain such personal information, shall be sent to the SSC and SE for publishing.

4. An organization’s information shall be disclosed by its legal representative or attorney-in-fact.  An individual’s personal information shall be disclosed by himself/herself or his/her attorney-in-fact. Information shall be disclosed by persons in charge as prescribed in Article 6 of this Circular.

5. Disclosing entities shall retain the information disclosed or reported as prescribed in this Circular as follows:

- Information periodically disclosed and information about registration of public companies must be retained in the form of hard copy (if any) and soft copy for at least 10 years. These information must be retained and accessed on the website of the disclosing entity for at least 05 years;

- Information disclosed on ad hoc basis or on request or other activities must be retained and accessed on the website of the disclosing entity for at least 05 years.

View more details at the Circular No. 96/2020/TT-BTC of the Ministry of Finance of Vietnam, effective from January 01, 2021.

Le Vy

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