Vietnam Passes Securities Law Amendments, Effective March 2027

Vietnam’s National Assembly passed amendments to the Securities Law on the morning of November 13. Of the 464 lawmakers present and voting, 463 voted in favor. The amendments contain three articles and will take effect on March 1, 2027. Before the vote, Finance Minister Ngô Văn Tuấn, authorized by the prime minister, briefed the National Assembly on revisions to the draft.

Finance Minister Ngô Văn Tuấn briefs the National Assembly on revisions to the draft Securities Law amendments.（VietVance）

The amendments set out basic principles and limits for controlled trials in the securities sector and authorize the government to specify trial procedures, risk control measures and how results will be handled afterward. Ngô Văn Tuấn said the draft provides for interim assessments and a final review so the competent authorities can decide whether to continue a trial or refine the legal framework before formal implementation. Trials must safeguard market stability and protect investors’ assets, data and rights.

On market organization, the government has retained its proposal to determine the structure of stock exchanges, allowing arrangements to reflect the needs of different stages of development. Provisions on restructuring state capital in stock exchanges have also been revised to clarify their scope and align with laws on the management of state capital in enterprises and other relevant regulations.

Lawmakers attend a session of Vietnam’s National Assembly.（VietVance）

For securities custody services, the government has retained a proposal to reduce some registration requirements and application documents, avoiding duplicate checks of capital adequacy conditions already monitored by banking regulators. The finance minister said requirements for technical capacity, operational safety, separate management of client assets and oversight of custody services will remain. If a custodian can no longer operate, client account data must also be reconciled and accounts settled and transferred in accordance with regulations.

To prepare for implementation, the government is drafting three detailed regulatory documents: two draft decrees concerning the controlled trial mechanism and amendments to Decree No. 155/2020/NĐ-CP, and a draft circular to be issued by the Ministry of Finance. The government will also continue reviewing supporting documents on operating procedures, staffing and technology infrastructure.

Source: VietVance