FACULTY OF MANAGEMENT AND TOURISM
FINANCIAL MANAGEMENT SEMINAR REPORT
Information Dissemination and Settlement Procedures of Vietnamese Stock Market
Mr. Nguyễn Xuân Trường
Group 4 – Tutorial 3 – BA09
Members: Trịnh Tuấn Khang
Lê Việt Đức
Kiều Ngọc Hương
Lê Văn Tâm
Vũ Thị Tâm
Ong Thị Hằng
Hoàng Thị Thu Trang
Vũ Ánh Ngọc
Nguyễn Minh Trang
Table of content
Laws and Regulations
Insider Trading Rules
* Elements Of The Prohibition
Case Study in Vietnam
Vietnamese stock market is operating at the rapid speed today. Because of this light future, there are more and more people investing in stock market hence it’s crucial for them to well understand the procedures in stock market. Understanding this demand, this report is born to clarify the partial of these procedures: Information dissemination and settlement procedure. Information dissemination procedure is about the steps through which information can be transferred from companies who have stocks to investors who want to buy stocks. Besides, this report identifies which types of information can be disseminated. Settlement procedures gives investors information about the steps to pay money after a transaction as well as the settlement day is also included. Frankly, we hope this report would be helpful for all people who want to take part in the stock market. However, there may be some fatal limitation which needs to be improved to make this report more applicable.
Laws and regulations on information dissemination issue
* Chapter VIII, from rule 100 to rule 107, Law on securities market
1. Rule 100 : Parties & Manners to disclose information: Issuing organizations, listing organizations, public companies, securities trading centers... are obliged to publish information completely, accurately and timely in accordance with this Law. These parties must also report to the State Securities Commission on the content of information published. The disclosure of information must be made by the general director or the person authorized. Information dissemination must be done through the mass media, publications of organizations, companies and the media of securities trading centers. 2. Rule 101: Information disclosure by public companies: The financial statements must be published within 10 days after accomplishing.The public companies also are asked to announce the information within 24 hours since some events happen. 3. Rule 102: Information disclosure by issuers of bonds (similar to rule 101) 4. Rule 103: Information dissemination of listed organization: Disclosure of information within 24 hours after the loss of property valued at 10% or more equity, listed organizations must announce the quarter financial statement within 5 days after complishing. 5. Rule 104: Information disclosure of securities companies, fund management companies: The financial statements must be published within 10 days after complishing.The companies are asked to announce the information within 24 hours since some events happen. 6. Rule 105: Disclosure of information about public funds 7. Rule 106: Information disclosure of securities investment companies: Securities investment companies must disclose the information prescribed in Rule 101 and 103 of this Law. 8. Rule 107: information dissemination of Securities Trading Centers (SSC): Securities Trading Centers must disclose the following information: * Information on securities transactions in SSC
* Information about the organization listed at the Stock Exchange, SSC * Information and supervise activities of the stock market.
References: Vietnam: Insider Trading Rules in Vietnam, Mai Thi Minh Hang, 18 August 2010, Journal of International Banking Law and Regulation.
Thị trường chứng khoán tại Việt Nam, Le Van Te, Tran Dac Sinh, Nguyen Van Ha, 2006, Social Labor publisher, Hanoi.
Thông tư Hướng dẫn về việc công bố thông tin trên thị trường chứng khoán ngày 29 tháng 6 năm 2006 của Bộ Tài chính http://www.ssc.gov.vn/portal/page/portal/ubck/qppl/1105661?m_action=1&m_action=1
Thông tư Hướng dẫn về việc công bố thông tin trên thị trường chứng khoán ngày 15 tháng 01 năm 2010 của Bộ Tài Chính http://www.ssc.gov.vn/portal/page/portal/ubck/qppl/1105661?m_action=1&m_action=1
Thông tư Sửa đổi, bổ sung Quy chế đăng ký, lưu ký, bù trừ và thanh toán chứng khoán ngày 22 tháng 10 năm 2007 của Bộ trưởng Bộ Tài chính http://www.ssc.gov.vn/portal/page/portal/ubck/qppl/1105661?m_action=1&m_action=1
Recent legal documents on financial issues, Ministry of Finance of the Socialist Republic of Vietnam 2010
Khái niệm - Thuật ngữ http://www.hastc.org.vn/Thuatngu.asp?actType=1&stockType=2#8
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