Amendments to Securities Law aim to modernise capital market framework

Amendments to Securities Law aim to modernise capital market framework

The Ministry of Finance is continuing to refine the draft Law amending and supplementing several articles of the Securities Law, with a view to submitting it to the 16th National Assembly’s second session, scheduled for October.

The continued amendment and supplementation of several provisions of the Securities Law are to address pressing issues arising from market practice and to strengthen the legal foundations for a modern, transparent and internationally integrated capital market.

Following the government Resolution No.66.16/2026/NQ-CP dated April 7, on reducing and simplifying administrative procedures and regulations related to production and business activities, and leveraging a review and assessment of the practical implementation of the Securities Law, the Ministry of Finance has submitted to the government a proposal to include the Law amending and supplementing several articles of the Securities Law in the 2026 legislative programme.

The bill is expected to be submitted to the 16^th National Assembly at its second session this October.

As part of the legislative drafting process, on June 15, the State Securities Commission of Vietnam (SSC) held a workshop to gather feedback on the draft law.

The workshop provided a forum for stakeholders directly affected by the draft legislation to exchange views, engage in discussions and contribute recommendations, thereby strengthening both the theoretical and practical foundations for further improving the draft law.

In his opening remarks, SSC vice chairman Bui Hoang Hai noted that in the improvement of legislation governing securities and the stock market has consistently received close attention and direction from the Party, the National Assembly, and the government, with the aim of fostering sustainable market development, creating momentum for economic growth, supporting international integration and achieving the Vietnam’s stock market upgrade objective.

“After more than five years of implementation, the 2019 Securities Law and its guiding regulations have established a relatively comprehensive, coherent and unified legal framework for securities transactions and the stock market. The legal framework has timely institutionalised the Party’s and the state’s policies and guidelines, helping to ensure that the market operates in a fair, transparent, open and secure manner while protecting the legitimate rights and interests of investors,” he said.

During implementation, securities regulations have continued to be reviewed and improved to meet regulatory requirements and keep pace with market development.

The National Assembly enacted Law No.6/2024/QH15, while the government and the Ministry of Finance amended and supplemented guiding documents.

These measures have helped promptly address numerous practical difficulties and impediments, strengthen investor confidence and support the objective of upgrading the market.

However, in the face of new development requirements, together with trends in digital transformation, innovation, the promotion of private-sector development and the building of a modern capital market, many emerging issues have arisen that are either not addressed or not comprehensively regulated under the current Securities Law.

“The continued amendment and supplementation of several provisions of the Securities Law are necessary to address urgent practical issues, meet the stock market development requirements in a new phase, respond to international integration needs, keep pace with the rapid IT development, and enhance the effectiveness of state management in the securities sector,” Hai said.

Regarding specific contents, the SSC vice chairman said that the draft Securities Law focuses on three major policy groups.

These include further simplifying business investment conditions and administrative procedures in the securities sector; establishing a legal basis for new issues in line with international financial market trends, such as regulatory sandbox mechanisms and bond payment guarantee institutions; and amending and supplementing regulations on electronic transactions, stock practitioners, the operations of stock trading organisations, stock investment funds, and policies aimed at ensuring a high-quality workforce for the securities industry.

At the workshop, key provisions of the draft Law were presented. Market participants, international organisations and experts also contributed comments on issues related to information disclosure, the simplification of administrative procedures for stock offerings, electronic transactions, regulatory sandbox mechanisms and solutions to promote capital market development.

The SSC stated that it will continue to compile, study and fully incorporate feedback received at the workshop, as well as written comments from ministries, agencies, organisations, businesses and other affected stakeholders, in order to finalise the draft Law in accordance with regulatory requirements.

The amendment and supplementation of the Securities Law are expected to further improve the legal framework governing the stock market in a modern, transparent, efficient and sustainable direction, while contributing to the successful achievement of Vietnam’s stock market upgrade objective in the coming years.

VIR