In less than 10 days, Circular No. 68/2024/TT-BTC will officially take effect, expected to help foreign investors have easier access to information in a more equal manner and more favorable conditions in transactions.
Conference on implementing Circular No. 68/2024/TT-BTC: About to amend a series of regulations at VDSC
In less than 10 days, Circular No. 68/2024/TT-BTC will officially take effect, expected to help foreign investors have easier access to information in a more equal manner and more favorable conditions in transactions.
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| Vice Chairman of the State Securities Commission Bui Hoang Hai delivered the opening speech at the Conference. |
Upcoming changes to a series of regulations at VDSC
The State Securities Commission (SSC) held 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; activities 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 took effect. With the presence of units under the State Securities Commission, Vietnam Stock Exchange, Ho Chi Minh City Stock Exchange, Hanoi Stock Exchange, Vietnam Securities Depository and Clearing Corporation (VSDC), the conference also had the participation of the Vietnam Securities Business Association and nearly 200 delegates who are leaders of securities companies, custodian banks, and payment banks.
Speaking at the opening of the Conference, Vice Chairman of the State Securities Commission Bui Hoang Hai said that Circular No. 68/2024/TT-BTC is the result of a very urgent and transparent document drafting process, demonstrating close and active coordination between management agencies, operating agencies and market members in implementing the upgrading goal and building an increasingly safe, comprehensive, healthy, integrated and sustainably developing stock market. To continue towards the upgrading goal and maintain the upgrading results, as well as towards long-term goals in developing the stock market, management agencies and market members need to join hands to implement Circular No. 68/2024/TT-BTC.
“The conference was held with the aim of introducing new points stipulated in Circular No. 68/2024/TT-BTC and, more importantly, for management and operating agencies to exchange and discuss with market members about the preparation and implementation work to improve the efficiency and effectiveness in implementing the Circular in practice,” Vice Chairman of the State Securities Commission Bui Hoang Hai emphasized.
At the Conference, representatives of the Vietnam Securities Depository and Clearing Corporation (VSDC) shared the contents that will be amended and supplemented in the Draft Regulations of VSDC. These include regulations on clearing and settlement of securities transactions at VSDC, regulations on registration and transfer of ownership of securities at VSDC, and regulations on depository members at VSDC.
Securities companies are "actively preparing"
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| Mr. Nguyen Khac Hai - Director of Law and Compliance Control, SSI Securities Company |
The conference also heard opinions from many depository banks and securities companies on their preparations for implementing the Circular. Representatives of depository banks and securities companies assessed Circular No. 68/2024/TT-BTC as an important legal basis to continue opening the door for foreign investors to participate in the Vietnamese stock market and shared positive feedback from investors and customers.
From these regulations, foreign investors can easily access information equally with domestic investors. Foreign investors are organizations that can invest in the Vietnamese stock market with more favorable and open conditions, with lower costs, minimizing risks of exchange rates, portfolio swaps, etc.
Securities companies also said they have been actively preparing in terms of business processes, human resources, systems, risk management mechanisms and capital to implement the Circular.
Many contents on the readiness of depository banks, securities companies, customers as well as necessary work that needs to be continued to implement the new regulations in the Circular were exchanged and discussed. Vice Chairman of the State Securities Commission Bui Hoang Hai requested market members to continue to maintain serious and close coordination, accompanying the market management agency to implement Circular No. 68/2024/TT-BTC safely and effectively, together towards the goal of upgrading as well as long-term goals in developing the stock market.
Source: https://baodautu.vn/hoi-nghi-trien-khai-thong-tu-so-682024tt-btc-sap-sua-doi-loat-quy-che-tai-vdsc-d228307.html
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