After nearly 10 years of implementation, the Securities Law 2006 which was amended and supplemented in 2010 has revealed shortcomings and it is now no longer suitable with the development of the economy as well as compatible with the changes of relevant legal documents. Therefore, on November 26, 2019, the National Assembly passed the Securities Law 2019 to replace the Securities Law 2006 amended in 2010. This Law officially came into effect on January 01, 2021. Some notable new points of the Securities Law 2019 include:
(i) Changing the conditions to become a public company;
(ii) Supplementing the conditions applicable to public offering;
(iii) Adding a number of prohibited acts;
(iv) Renewing the mechanism of establishing securities companies and securities investment fund management companies.