Vietnam: When does the securities investment fund management company disclose ad hoc information?

Specifically, according to Article 29 of the Circular No. 96/2020/TT-BTC of the Ministry of Finance of Vietnam, the securities investment fund management company shall disclose information about the public securities investment company on an ad hoc basis within 24 hours from the occurrence of any of the following events:

- Suspension or cancellation of the offering of shares of the public securities investment company;

- Suspension of trading in shares of the public securities investment company;

- Revision to the charter or prospectus;

- Decisions on consolidation, merger, partial or full division, dissolution, change of operating period, or liquidation of assets of the public securities investment company; revocation of certificate of establishment and operation of the public securities investment company;

- Decisions on offering and issuance of shares of the public securities investment company; issuance of certificate of public offering of shares or certificate of registration of offering of additional shares; license for establishment and operation, or license for modification of the license for establishment and operation;

- Decision on increasing or decreasing of charter capital;

- Incorrect determination of the net asset value of the public securities investment company;

- Change of the company’s name, the securities investment fund management company or supervisory bank;

- Excess of investment limits and adjustment of deviation of the company’s investment portfolio;

- Other events that may seriously affect the company’s financial capacity and operation;

- The cases prescribed in Points a, c, dd, g, i, l, n and o Clause 1 Article 11 of this Circular.

Besides, the securities investment fund management company shall disclose information about the extraordinary General Meeting of Shareholders (GMS) or ratification of resolution of the GMS by questionnaire survey of the public securities investment company according to Clause 3 Article 11 of this Circular. The securities investment fund management company must disclose other ad hoc information about the public securities investment company in accordance with regulations on operation and management of securities investment funds.

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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