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ARTICLE · 15 SEPTEMBER 2012

Vietnam's new regulation on securities transactions

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Amid the stock market slump, the Vietnamese Government issued a new decree on securities to replace 3 repealed decrees.

VietnamFinance and Banking
Duyen Vo Ha
Duyen Vo Ha

Amid the stock market slump, the Vietnamese Government has issued Decree 58/2012/ND-CP ("Decree 58") on securities to replace Decree 14/2007/ND-CP of 19 January 2007, Decree 84/2010/ND-CP of 2 August 2010, and Decree 01/2010/ND-CP of 4 January 2010. The three repealed Decrees are collectively referred to as the "Old Decrees" in this article.

Decree 58 takes effect on 15 September 2012.

Among the highlighted changes are the lifting of certain restrictions on private placement, introduction of a legal framework and approval requirements for the international offering of depository receipts, increase of conditions for the listing of shares, provision of conditions for the holding of 100% of the shares in a securities company by a foreign investor and introduction of "real estate investment funds."

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