Vietnam: 06 responsibilities of issuers and public companies with registered securities

16:55, 11/01/2021

Recently, the Ministry of Finance of Vietnam has just issued the Circular No. 119/2020/TT-BTC on registration, depository, clearing and settlement of securities in Vietnam.

Tổ chức phát hành, CTĐC có chứng khoán đăng ký, Thông tư 119/2020/TT-BTC

According to Article 9 of the Circular No. 119/2020/TT-BTC of the Ministry of Finance of Vietnam, responsibilities of issuers and public companies with registered securities are specified as follows:

First: Comply with the provisions of law and the relevant professional operation regulations of VSDC.

Second: Sign a service contract with the Vietnam Securities Depository and Clearing (VSDC) in accordance with Article 10 of the Circular No. 119/2020/TT-BTC.

Third: Provide accurate necessary information or documents in a timely manner to VSDC to carry out securities registration and exercise rights as prescribed or when VSDC requests in writing to clarify information or the above documents; be held liable for the information and documents provided to VSDC.

Fourth: Be liable for damage caused to VSDC and securities owners when failing to comply with the provisions of law and VSDC's regulations, except for force majeure cases.

Fifth: Pay service fees to VSDC according to regulations of the Ministry of Finance of Vietnam.

Sixth: Other responsibilities as prescribed by law and VSDC's regulations.

More details at the Circular No. 119/2020/TT-BTC of the Ministry of Finance of Vietnam, effective from February 15, 2021.

Ty Na

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