Starting from March 8th, the State Securities Commission will operate an information disclosure system for organizations listed, and registered for trading on the stock exchange to reduce reporting burden.
Listed organizations and registered trading companies only need to report and disclose information at the exchange where the company is listed or registered for trading
Currently, organizations listed and registered for trading on the stock exchanges implement the obligation to disclose information through the information disclosure system of the State Securities Commission, as prescribed in Circular No. 96/2020/TT-BTC on November 16, 2020, guiding the disclosure of information in the securities market.
Accordingly, the entities specified in Article 2 of this Circular, when disclosing information, must simultaneously report to the State Securities Commission and the Stock Exchange where the securities are listed or registered for trading. Listed organizations and trading registered companies are submitting reports and disclosing information to both the State Securities Commission and the Stock Exchange where the company’s shares are listed or registered for trading.
To reduce the reporting burden and information disclosure, the State Securities Commission has implemented technological solutions, synchronized business requirements, specifically unified reporting and information disclosure for organizations listed and registered for trading on the Stock Exchange.
In that spirit, the State Securities Commission has instructed relevant units to implement the task of adjusting the information disclosure system and related documents, meeting the requirements of technology connectivity and data exchange between the State Securities Commission and the Stock Exchange in the soonest time possible. Listed organizations and registered trading companies only need to report and disclose information at the exchange where the company is listed or registered for trading.
In the immediate future, the State Securities Commission will only apply this to organizations listed and registered for trading on the Hanoi Stock Exchange (HNX). And it will be applied first to 321 listed companies and 869 registered trading companies. After the implementation process at HNX, the State Securities Commission will continue to implement the information disclosure system for businesses listed on the Ho Chi Minh City Stock Exchange (HOSE).
This is one of the solutions of the State Securities Commission to contribute to minimizing administrative procedures, reducing costs for businesses. Along with that, it increases the efficiency and timeliness of information disclosure, creating favorable conditions and support for organizations listed and registered for trading on the Stock Exchange in fulfilling the obligation to disclose information in the securities market.
