SSC proposes new Information Disclosure System

March 04, 2024 | 09:09

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The State Securities Commission (SSC) is seeking feedback from market participants on the proposed regulations governing the use of its Information Disclosure System (IDS).

SSC proposes new Information Disclosure System

As outlined in the draft regulations, public companies listed or registered for trading on the Hanoi Stock Exchange (HNX) or the Ho Chi Minh Stock Exchange (HSX) are required to submit information for disclosure via its IDS.

Public companies would utilise accounts provided by the SSC and their public digital signatures to report and disclose electronic information through the IDS. Upon receiving their login credentials, public companies access the IDS to update their company profile in accordance with the regulations. The disclosed information covers basic company information, internal personnel and related parties, shareholder lists, offering profiles, financial data, and the history of company changes.

Public companies are also responsible for promptly updating their company profile information on the IDS whenever changes occur, aligning with their disclosure submissions.

It is compulsory for companies listed on the HSX to report and disclose information using the IDS, while those registered on the HNX follow the exchange’s reporting and disclosure procedures. Organisations listed or registered for trading on HNX are not required to duplicate their disclosures if they have already been submitted through the HNX system.

Additionally, public companies are required to register individuals responsible for disclosing company information with the SSC. Any changes to these individuals must be promptly updated on the IDS.

Public companies that fail to utilise or register with the IDS will undergo regulatory review and processing.

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