The Vietnam State Securities Commission has published the main contents of a Ministry of Finance draft circular that would implement parts of Decree 200/2026 on private corporate bond issuance and trading in the domestic market and corporate bond offerings in international markets. The draft would replace two existing circulars and consolidate the operating framework for privately placed corporate bonds, covering registration, depository, exercise of rights, transfer of ownership, trading arrangements, transaction settlement, disclosure and reporting. For domestic private placements, the draft keeps the current framework in place but revises and supplements it to align with Decree 200/2026 and current law. It sets rules for registering bonds for trading, adjusting registered volumes and canceling trading registration at the stock exchange, and defines the responsibilities and reporting obligations of private corporate bond trading members. It also covers settlement participants, post-trade error handling and cases where a party cannot meet cash settlement obligations. On disclosure, the draft retains the existing requirements for pre-offering, periodic and ad hoc disclosures by issuers, while adding new templates and refining existing forms. It also updates reporting requirements for advisers on offering dossiers, bondholder representatives, auction, underwriting and issuing agents, the stock exchange, Vietnam Securities Depository and Clearing Corporation, and bond registration and depository institutions. In addition, it would require annual notifications from provincial-level People's Committees to the Ministry of Finance on monitoring, inspections and sanctions involving non-public issuer companies headquartered in their jurisdictions, and it sets a mechanism for sharing data from the corporate bond information portal with provincial authorities and the State Securities Commission. The Ministry of Finance is seeking comments on the draft through the State Securities Commission and Ministry of Finance portals. The draft circular does not create administrative procedures.
Vietnam State Securities Commission2026-06-24
Vietnam State Securities Commission publishes draft implementing rules for private corporate bond issuance trading settlement and disclosure
The Vietnam State Securities Commission has published a Ministry of Finance draft circular to implement Decree 200/2026 on private corporate bond issuance and trading. The draft would replace two existing circulars and update rules on trading registration, settlement, disclosure, reporting and information sharing for the private corporate bond market. The Ministry of Finance is consulting on the draft, which would not create administrative procedures.