State Securities Commission rectifies services related to individual corporate bonds

The State Securities Commission (SSC) has just issued a notice requiring securities companies to strictly comply with regulations in providing services related to privately issued corporate bonds.

The State Securities Commission of Vietnam (UBCKNN) issued a document to rectify the activities of securities companies related to private corporate bonds (Photo: TL).

Regarding the provision of services in the private corporate bond market, on September 10, 2021, the State Securities Commission (SSC) issued document No. 5225/UBCK-QLKD reminding and rectifying the activities of securities companies. On April 29, 2022, the SSC further issued Official Letter No. 2488/UBCK-QLKD requiring compliance with regulations related to the issuance of private corporate bonds, and Official Letter No. 5640/UBCK-QLKD dated August 21, 2023, requiring compliance with regulations on the transfer of privately offered bonds.

In 2023, to ensure the safe, sound, and sustainable operation of the corporate bond market, on December 29, 2023, the State Securities Commission (SSC) issued Official Letter No. 9453/UBCK-TT, requiring securities companies to strictly implement Official Letter No. 5225/UBCK-QLKD dated September 10, 2021, Official Letter No. 2488/UBCK-QLKD dated April 29, 2022, and Official Letter No. 5640/UBCK-QLKD dated August 21, 2023 of the SSC.

The State Securities Commission (SSC) requires securities companies to strictly comply with regulations on providing advisory services for public offerings, tenders, underwriting, agency issuance, and registration and custody of privately placed corporate bonds. The SSC also clarifies that securities companies, their employees, and securities professionals are prohibited from advising, soliciting, or selling privately placed corporate bonds to entities that do not meet the regulations; and are prohibited from confirming the transfer or ownership transfer of privately placed corporate bonds that require centralized registration and custody at the Vietnam Securities Depository and Clearing Corporation and trading registration at the Hanoi Stock Exchange as stipulated in Clause 5, Article 3 of Decree No. 65/2022/ND-CP. Violations will be severely punished according to the law.

Source: https://www.congluan.vn/ubcknn-chan-chinh-dich-vu-lien-quan-trai-phieu-doanh-nghiep-rieng-le-post279821.html