Circular No. 96/2020/TT-BTC guiding the disclosure of information on the securities market

On November 16, 2020, the Ministry of Finance issued Circular 96/2020/TT-BTC guiding the disclosure of information on the stock market.

Accordingly, in the following two cases, a public company must disclose information within 24 hours of receiving a request from the State Securities Commission or the Stock Exchange where the company is listed or registered for trading, including when an event occurs that seriously affects the legitimate interests of investors or when there is information related to the company that greatly affects the price of securities and needs to be confirmed. At the same time, stock listing organizations and large-scale public companies must disclose unusual information within 24 hours of one of the following events: a decision to increase or decrease charter capital; decision to contribute capital to an organization, project, borrow, lend or conduct other transactions with a value of 10% or more of the company’s total assets according to the most recent audited annual financial report or the most recent reviewed semi-annual financial report (based on the consolidated financial report in the case where the public company is the parent company); or a decision to contribute capital with a value of 50% or more of the charter capital of an organization, determined according to the charter capital of the organization receiving the capital contribution before the time of capital contribution.

This Circular takes effect from January 1, 2021.