A series of regulations at VDSC are about to be revised.

In less than 10 days, Circular No. 68/2024/TT-BTC will officially come into effect, expected to support foreign investors in accessing information more easily and equally, along with more favorable conditions in transactions.

Conference to implement Circular No. 68/2024/TT-BTC: A series of regulations at VDSC are about to be amended.

In less than 10 days, Circular No. 68/2024/TT-BTC will officially come into effect, expected to support foreign investors in accessing information more easily and equally, along with more favorable conditions in transactions.

Vice Chairman of the State Securities Commission Bui Hoang Hai delivered the opening remarks at the conference.

A series of regulations at VDSC are about to be revised.

The State Securities Commission (SSC) organized a conference to implement Circular No. 68/2024/TT-BTC dated September 18, 2024, of the Ministry of Finance , amending and supplementing a number of articles of the Circulars regulating securities transactions on the securities trading system; clearing and settlement of securities transactions; operations of securities companies and information disclosure on the securities market (Circular No. 68/2024/TT-BTC).

The conference was held just 10 days before Circular No. 68/2024/TT-BTC officially came into effect. Along with representatives from the State Securities Commission, the Vietnam Stock Exchange, the Ho Chi Minh City Stock Exchange, the Hanoi Stock Exchange, and the Vietnam Securities Depository and Clearing Corporation (VSDC), the conference also included the Vietnam Securities Business Association and nearly 200 delegates, including leaders from securities companies, custodian banks, and clearing banks.

In his opening remarks at the conference, Vice Chairman of the State Securities Commission Bui Hoang Hai stated that Circular No. 68/2024/TT-BTC is the result of a very urgent and transparent drafting process, demonstrating close and active coordination between the regulatory body, the operating body, and market participants in achieving the goal of upgrading the market and building an increasingly safe, comprehensive, healthy, integrated, and sustainably developing securities market. To continue working towards the goal of upgrading and maintaining the upgraded status, as well as towards long-term goals in the development of the securities market, the regulatory body and market participants need to work together to implement Circular No. 68/2024/TT-BTC.

“The conference was organized with the aim of introducing the new points stipulated in Circular No. 68/2024/TT-BTC and, more importantly, to allow regulatory and operational agencies to exchange and discuss with market participants the preparation and implementation of the Circular to enhance its effectiveness and efficiency in practice,” emphasized Bui Hoang Hai, Vice Chairman of the State Securities Commission.

At the conference, representatives from the Vietnam Securities Depository and Clearing Corporation (VSDC) shared the proposed amendments and additions to the draft regulations of VSDC. These include regulations on securities clearing and settlement at VSDC, regulations on securities registration and ownership transfer at VSDC, and regulations on depository members at VSDC.

Securities companies are "actively preparing".

Mr. Nguyen Khac Hai - Director of the Legal and Compliance Control Division, SSI Securities Company

The conference also heard opinions from many custodian banks and securities companies on their preparations for implementing the Circular. Representatives from custodian banks and securities companies assessed Circular No. 68/2024/TT-BTC as an important legal basis that further opens the door for foreign investors to participate in the Vietnamese securities market and shared positive feedback from investors and customers.

These regulations allow foreign investors to easily access information on an equal footing with domestic investors. Foreign institutional investors can therefore invest in the Vietnamese stock market under more favorable and open conditions, with lower costs, and reduced risks related to exchange rates and portfolio swaps.

Securities companies also stated that they have been actively preparing thoroughly in terms of business processes, human resources, systems, risk management mechanisms, and capital to implement the Circular.

Many issues regarding the readiness of custodian banks, securities companies, and clients, as well as the necessary work to continue implementing the new regulations in the Circular, were discussed. Vice Chairman of the State Securities Commission, Bui Hoang Hai, requested that market participants continue to maintain serious and close coordination, working alongside the market management agency to implement Circular No. 68/2024/TT-BTC safely and effectively, aiming towards the goal of upgrading the market status and other long-term goals in the development of the securities market.

Source: https://baodautu.vn/hoi-nghi-trien-khai-thong-tu-so-682024tt-btc-sap-sua-doi-loat-quy-che-tai-vdsc-d228307.html