Việt Nam News

SSC to launch single-point information disclosure system for listed firms

March 04, 2024 - 12:30

The system helps streamline administrative procedures and reduce business costs, improve efficiency and ensure timely information dissemination.

A trader talks to a customer at Bảo Việt Securities' trading floor. — VNA/VNS Photo

HÀ NỘI — The State Securities Commission (SSC) of Việt Nam is expected to officially launch a centralised information disclosure system for listed organisations and those registered for trading on the stock exchange on March 8.

Initially, this system will be implemented for organisations listed and registered for trading on the Hà Nội Stock Exchange (HNX).

Currently, these organisations are required to fulfil their disclosure obligations on the SSC's system, as outlined in Circular No. 96/2020/TT-BTC issued by the Ministry of Finance, according to the SSC.

They also must submit reports to the respective stock exchange where their shares are listed or traded.

To streamline the reporting process and reduce the reporting burden, the SSC has introduced technological solutions to establish a single reporting point for all listed organisations and those registered for trading on the stock exchange.

At the moment, the single-point reporting system for information disclosure and announcements via HNX is completely prepared for deployment.

It will first apply to 321 publicly traded businesses and 869 registered for trading.

Following the successful implementation at HNX, the SSC will go forward with establishing the single-point information disclosure system for the Hồ Chí Minh Stock Exchange (HoSE)-listed businesses.

The launch of the centralised information disclosure system is one of the SSC's measures to streamline administrative procedures and reduce business costs. It also improves efficiency, ensures timely information dissemination, and provides convenient and supportive conditions for listed organisations and companies registered for stock exchange trading to fulfil their information disclosure obligations in the securities market. — VNS

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