Vietnam Securities Depository and Clearing Corporation set up
The Hanoi-based company, with a registered capital of US$42.3 million, would oversee securities registration, deposit, clearing, and payment processes.
Deputy Prime Minister Le Minh Khai has signed decision No.26/2022 on establishing the Vietnam Securities Depository and Clearing Corporation (VSDC), based on transforming the Vietnam Securities Depository (VSD).
|The VSDC has been set up to oversee the processes of securities registration, depository, clearing, and payment. File photo|
The VSDC, headquartered in Hanoi and a branch in Ho Chi Minh City, would take over all rights and responsibilities of the VSD under current regulations and is set to have a chartered capital of VND1 trillion (US$42.3 million).
The VSDC would proceed with and monitor securities registration, depository, clearing, and payment.
In addition, the company is expected to draft regulations on these processes and related-risk management for each procedure; assign, change and remove stock tickers for domestic and foreign entities.
During all these processes, the VSDC would also supervise the foreign ownership level at public companies under current regulations and ensure the compliance of its members to the securities framework.
The VSDC would maintain the technical infrastructure and database for securities registration, depository, clearing, and payment.
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