New Law on Securities Brings Important Changes to Foreign Ownership Limitations, Public Company Criteria, IPOs and Tender Offers

The National Assembly adopted the new Law on Securities (the "New Law") with a view to improving the current legal framework of the securities market by further aligning it with the overall development scheme of Vietnam's financial sector. The New Law will replace the current Law on Securities (together with its implementing regulations, the "Current Law") with effect from 1 January 2021.