On February 8, 2022, the Ministry of Finance issued Circular 06/2022/TT-BTC guiding the compliance supervision of the State Securities Commission for activities in the securities sector of the Vietnam Exchange and its subsidiaries, Vietnam Securities Depository and Clearing Corporation.
According to Circular 06/2022/TT-BTC, the State Securities Commission shall supervise the Vietnam Exchange on the following professional activities:
– Develop and issue regulations on securities listing, securities trading, information disclosure, members of the Vietnam Exchange and other professional regulations;
– Organize the securities trading market according to the provisions of the securities law;
– Approve, cancel the membership of the Vietnam Stock Exchange; manage, supervise, examine and handle violations of members; act as a mediator at the request of members when disputes arise related to securities trading activities;
– Organize and implement compliance control activities of the Vietnam Exchange for securities operations;
– Store and secure records, documents and original data related to the performance of securities operations;
– Other activities of the Vietnam Exchange and its subsidiaries related to professional activities.
Regarding the content of compliance monitoring for Vietnam Securities Depository and Clearing Corporation, the Circular has supplemented the professional activities of VSDC under supervision of the State Securities Commission: Develop and issue regulations on registration, depository, clearing and settlement of securities and other professional regulations; The supervision of the rate of foreign ownership in public companies and public funds in accordance with law; The registration of security interests, management of registration of security interests for securities centrally registered at the VSDC.
This Circular comes into force from March 24, 2022, abolishing Circular No. 116/2017/TT-BTC and Circular No. 35/2019/TT-BTC.