Vietnam proposes controlled testing mechanism in draft Securities Law amendments

Vietnam's State Securities Commission (SSC) is actively working on amendments to the Securities Law, with a significant focus on introducing a controlled testing mechanism. This initiative was discussed during a recent meeting between the SSC and a delegation from the National Assembly's Economic and Financial Committee.

According to SSC Chairwoman Vu Thi Chan Phuong, the draft law aims to simplify investment conditions and administrative procedures within the securities sector. It also introduces new policies, including the controlled testing mechanism and bond payment guarantee mechanisms. Furthermore, the amendments will address digital transformation and the application of information technology in securities operations and intermediary organizations.

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This is to ensure that safety aspects are always given attention and strengthened.

The proposed revisions also involve reviewing and amending regulations to ensure legal consistency and facilitate implementation. Doan Thi Thanh Mai, Vice Chairman of the Economic and Financial Committee of the National Assembly, praised the amendments, stating they align with the development needs of the stock market. She highlighted that the changes would enhance capital mobilization, reduce administrative hurdles, and simplify business conditions, thereby supporting the market's upgrade to a higher ranking and keeping pace with global trends.

Officials emphasized the necessity of these amendments in the current context, focusing on the scope and content of revisions, legal consistency, and the impact of new policies. The Ministry of Finance has instructed the SSC to incorporate feedback to finalize the draft law for submission to competent authorities, ensuring close coordination with National Assembly bodies throughout the process.

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The amendments are in line with the development requirements of the stock market, enhancing the ability to mobilize capital for the economy, reducing administrative procedures, simplifying business conditions, meeting the requirements for upgrading the market to a higher ranking by rating organizations and global development trends.