Guidance on registration of securities with Vietnam Securities Depository and Clearing Corporation in 2024

Guidance on registration of securities with Vietnam Securities Depository and Clearing Corporation in 2024​ (Image from Internet)

1. Guidance on registration of securities with Vietnam Securities Depository and Clearing Corporation in 2024

Article 3 of Circular 119/2020/TT-BTC guides registration of securities with Vietnam Securities Depository and Clearing Corporation as follows:

- Types of securities and forms of registration of securities with Vietnam Securities Depository and Clearing Corporation are specified in Clauses 1, 2, 3 of Article 149 of the Law on Securities 2019 detailing the implementation of some provisions of the Law on Securities 2019.

- Issuers and public companies shall register the following information with the Vietnam Securities Depository and Clearing Corporation:

+ Information about issuers and public companies;

+ Information about the securities of issuers and public companies;

+ Information about securities holders including: list of securities holders, types of securities, number of securities owned, and depository accounts in case securities holders wish to register securities simultaneously with securities depository.

- Issuers and public companies register securities directly with the Vietnam Securities Depository and Clearing Corporation or through securities firms. When there is any change in the registered information, issuers and public companies must adjust the information with the Vietnam Securities Depository and Clearing Corporation. Issuers and public companies are responsible for the accuracy, completeness, and promptness of the information specified in Clause 2, Article 3 of Circular 119/2020/TT-BTC.

- The Vietnam Securities Depository and Clearing Corporation shall issue regulations on securities registration activities.

2. What is the Vietnam Securities Depository and Clearing Corporation?

The Vietnam Securities Depository and Clearing Corporation (Vietnam Securities Depository and Clearing Corporation) is established based on Decision 26/2022/QD-TTg dated December 16, 2022, by the Prime Minister of the Government of Vietnam.

Based on Article 1 of Decision 26/2022/QD-TTg, the Vietnam Securities Depository and Clearing Corporation is established as follows:

- The Vietnam Securities Depository and Clearing Corporation is a state-owned enterprise managed in the form of a one-member limited liability company with 100% charter capital held by the State; has legal status, its own seal; can open accounts in VND and foreign currencies at the State Treasury and commercial banks within the country, and branches of foreign banks; independently accounts for finances, implements financial policies, statistical reporting, accounting, auditing, information disclosure, and fulfills financial obligations as prescribed by law.

+ International transaction name: Viet Nam Securities Depository and Clearing Corporation.

+ Abbreviated name: Vietnam Securities Depository and Clearing Corporation.

+ The Vietnam Securities Depository and Clearing Corporation has its headquarters in Hanoi and a branch in Ho Chi Minh City.

- The Vietnam Securities Depository and Clearing Corporation inherits all rights and responsibilities of the Vietnam Securities Depository Center as prescribed by law; exercises rights and obligations under the Law on Securities 2019, Law on Enterprises 2020, Law on Management and Use of State Capital Invested in Production and Business in Enterprises 2014 and other relevant legal provisions; performs business registration in accordance with the Law on Enterprises 2020.

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