Vietnam’s National Assembly Passes Securities Law Amendments, Effective March 2027
Vietnam’s National Assembly passed amendments to the Securities Law on November 13 with 463 votes in favor. Taking effect on March 1, 2027, the amendments establish a controlled pilot mechanism for new securities products and services, simplify registration requirements for securities custody, and adjust professional qualification standards.
At the second session of Vietnam’s 16th National Assembly, lawmakers passed amendments to the Securities Law on the morning of November 13, with 463 of the 464 representatives present voting in favor. The three-article law takes effect on March 1, 2027, and mainly addresses pilots for new products, securities custody, professional qualifications, and the organization and operation of the market.
Before the vote, Finance Minister Ngô Văn Tuấn, acting on the prime minister’s behalf, explained the revisions to the National Assembly. The amendments establish a legal basis for controlled pilots of new securities products, services, and business models. The law sets out basic principles and limits, while the government will specify the procedures, risk controls, and handling of pilot results. Pilots must account for market safety and the protection of investors’ assets, data, and rights.
Finance Minister Ngô Văn Tuấn explains the revisions to the Securities Law amendments to the National Assembly.（VietVance）
For securities custody, the amendments reduce some registration conditions and application documents, avoiding duplicate checks of capital adequacy requirements already overseen by banking regulators. Requirements for technical capacity, operational safety, and the separate management of client assets remain in place. Rules on reconciling data and settling and transferring client accounts also continue to apply if a custodian can no longer operate.
Professional qualification requirements will vary by the responsibilities of each position. Where an institution has multiple legal representatives, at least one must meet the relevant professional standards; the others need not all hold professional practice certificates. The law also provides a transition period of two years or until personnel change, and clarifies rules on exchange-traded funds receiving and exchanging other assets. The government has drafted two decrees and one circular under the finance minister’s authority in preparation for implementation.
Source: VietVance
