Organizing the securities market in Vietnam

16:30, 05/12/2019

Recently, the National Assembly of Vietnam has issued the Law on Securities 2019, replacing the Law on Securities 2006 and the amended Law on Securities 2010.

Contents of charter of Vietnam Stock Exchange from January 01, 2021 / Vietnam: Listed and registered securities shall not be traded outside the securities trading system

Tổ chức thị trường giao dịch chứng khoán tại Việt Nam, Luật Chứng khoán 2019

According to Article 42 of the Law on Securities 2019 of Vietnam, Vietnam Stock Exchange (VSE) and its subsidiaries are entitled to organize a market for

- Listed securities;

- Securities of state-owned enterprises, wholly state-owned single-member limited liability companies;

- Securities of other enterprises that are not qualified for listing;

- Securities of startups; derivatives and other kinds of securities.

Particularly, no other organizations and individuals than VSE may organize and operate the securities market.

Besides, this Law also stipulates that VSE is an enterprise that is established and operated in accordance with this Law, the Law on Enterprises. Over 50% of charter capital or voting shares of VSE shall be held by the State. The Prime Minister shall issue decisions on establishment, dissolution, operating model, type of ownership, functions, tasks and powers of VSE, and establishment of its subsidiaries as proposed by the Minister of Finance of Vietnam.

VSE and its subsidiaries are under management and supervision of SSC.

View more details at the Law on Securities 2019 of Vietnam, effective from January 01, 2021.

Ty Na

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE

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