Gov't establishes Viet Nam Securities Depository and Clearing Corporation

This is a wholy State-owned enterprise headquartered in the capital city of Ha Noi and has a branch in Ho Chi Minh City – Viet Nam's biggest economic engine.

The corporation has legal status and its own seal; may open accounts in Viet Nam dong and foreign currencies at the State Treasury and domestic commercial banks, foreign bank branches; independent accounting, implementing financial regimes, statistical reporting, accounting, auditing, information disclosure, and financial obligations as prescribed by law.

VSDC inherits all rights and responsibilities of the Viet Nam Securities Depository Center in accordance with the law; exercise the rights and perform the obligations as prescribed in the Law on Securities, the Law on Enterprises, the Law on the management and use of state capital invested in production and business at the enterprise and relevant provisions of law; carry out enterprise registration according to the provisions of the Law on Enterprises.

VSDC has the function of organizing the registration, depository, clearing and settlement of securities; supervise the activities of registration, depository, clearing and settlement of securities transactions on the stock market in accordance with the provisions of the securities law; other functions and duties as prescribed by law and the Charter of organization and operation of VSDC.

VSDC is responsible for formulating and organizing the implementation of strategies, plans for investment and development, 5-year production and business plans and annual production and business plans after being approved by competent authorities in accordance with regulations.

VSDC shall issue regulations on registration, depository, clearing and settlement of securities, membership regulations of VSDC and other professional regulations after being approved by the State Securities Commission; building operating procedures and risk management for each business line./.