On June 30, 2021, the Ministry of Finance issued Circular 51/2021/TT-BTC guiding the obligations of organizations and individuals in foreign investment activities on the Vietnamese stock market, issued by the Minister of Finance (“Circular 51”). Circular 51 replaces Circular No. 123/2015/TT-BTC dated August 18, 2015, of the Minister of Finance guiding foreign investment activities on the Vietnamese stock market (“Circular 123”).
Circular 51 has introduced new reforms on the reporting regime of entities in foreign investment activities on Vietnam’s stock market compared to the previous regulations in Circular 123. The following are highlights:

Note:
• Report recipient: State Securities Commission.
• At the request of the State Securities Commission, the subjects directly report and provide the list, data, and other documents related to the activities of foreign investors.
• Newspapers are presented in the form of paper documents attached to electronic data files or on the foreign investor activity management system of the State Securities Commission and must be archived for a minimum 5-year period of time.
Circular 51 takes effect from August 16, 2021.

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