Disclosing information about public investment securities companies is a mandatory procedure that subjects are obliged to follow according to the provisions of law. Information disclosure must be complete, accurate and timely. Next, LawFirm.Vn will specify the regulations on this issue through Circular 96/2020/TT-BTC.
1. What is a securities investment company?
A securities investment company is a securities investment fund organized in the form of a joint stock company to invest in securities. Securities investment companies have two forms: private securities investment companies and public securities investment companies. (Article 114 of the Securities Law 2019)
2. Periodically disclose information about public securities investment companies
According to Article 28 of Circular 96/2020/TT-BTC, periodic information disclosure about public securities investment companies is regulated as follows:
– Financial statements: Securities investment fund management companies must publish annual financial statements that have been audited by an approved auditing organization, semi-annual financial statements that have been reviewed and reported. Quarterly financials of modern securities investment company.
– Investment activity reports: Securities investment fund management companies must periodically publish monthly, quarterly and annual reports on investment activities of public securities investment companies in accordance with the law on investment activities. Guide the operations and management of public securities investment companies.
– Report on changes in net asset value: Securities investment fund management companies must periodically publish weekly reports on changes in net asset value of public securities investment companies in accordance with the law. on guidelines for operations and management of public securities investment companies.
– Summary report on management activities of public securities investment companies: Securities investment fund management companies must publish semi-annual and annual reports summarizing management activities of securities investment companies. public securities in accordance with the law on guiding the operation and management of public securities investment companies.
– The securities investment fund management company must disclose information about the General Meeting of Shareholders of the public securities investment company.
– Except for financial reports, other periodic information disclosure deadlines of public securities investment companies are as follows:
+ For information published weekly: On the first working day of the next week or on the next working day of the valuation date (for open funds);
+ For information published monthly: Within 05 working days from the end of the latest month;
+ For information published quarterly: Within 20 days from the end of the most recent quarter;
+ For information published periodically every 06 months (semi-annual): Within 45 days from the end of the latest 06 months (semi-annual);
+ For information published annually: Within 90 days from the end of the most recent year.
3. Announcing unusual information about public securities investment companies
According to Article 29 of Circular 96/2020/TT-BTC, disclosing unusual information about public securities investment companies is regulated as follows:
Securities investment fund management companies must disclose unusual information within 24 hours from the occurrence of one of the following events for public securities investment companies:
– Suspended or canceled the stock offering of a public securities investment company;
– Temporarily suspend trading of shares of public securities investment companies;
– Amending the Charter and Prospectus;
– Decision on consolidation, merger, division, separation, dissolution, change of operating term, liquidation of assets of public securities investment company; Revoked Certificate of establishment and operation for public securities investment companies;
– Decision to offer and issue shares of a public securities investment company; was granted a Certificate of public offering of shares, a Certificate of registration to issue additional shares; License for establishment and operation, License to adjust the license for establishment and operation of the company;
– Decide to increase or decrease charter capital;
– Mispricing the net asset value of a public securities investment company;
– Change company name, change securities investment fund management company, custodian bank;
– Exceeding investment limits and adjusting deviations of the company’s investment portfolio;
– Other events that may seriously affect the company’s financial capacity and operations;
– The following cases:
+ The company’s account at a bank or foreign bank branch is blocked at the request of a competent authority or when the payment service provider detects signs of fraud or violation of law. relating to payment accounts; Accounts are allowed to operate again after being blocked
+ Approve the decision of the extraordinary General Meeting of Shareholders.
+ Decision on dividend level, form of dividend payment, dividend payment time; decide to split or combine stocks;
+ Decision to change the accounting period and applicable accounting policies (except for changes in applicable accounting policies due to changes in legal regulations); Notify the auditing firm has signed a contract to audit the annual financial statements or change the auditing firm (after signing the contract); canceling the signed audit contract;
+ Decision of the General Meeting of Shareholders or Board of Directors approving contracts and transactions between the company and internal persons, related persons of internal persons or related persons of public companies;
+ The company changes, appoints new, re-appoints, dismisses internal people; receive a resignation letter from an internal person (the company needs to clearly state the effective date according to the provisions of the Enterprise Law and the company’s Charter). At the same time, the company sends the State Securities Commission and the Stock Exchange a copy of the new insider’s information according to the form;
+ When receiving a decision to prosecute the company or its insiders; temporary detention and criminal prosecution of company insiders;
+ When receiving a legally effective judgment or decision of the Court related to the company’s operations; Decision to sanction violations of tax laws.
The securities investment fund management company must disclose information about the extraordinary General Meeting of Shareholders or pass the Resolution of the General Meeting of Shareholders in the form of collecting shareholders’ written opinions from the securities investment company. public contract.
Securities investment fund management companies must disclose other unusual information about public securities investment companies in accordance with the law on guiding the operation and management of securities investment funds.
4. Disclose information as required about public securities investment companies
According to Article 30 of Circular 96/2020/TT-BTC, the company’s required information about public securities investment companies is prescribed as follows:
– Securities investment fund management companies must disclose information related to public securities investment companies within 24 hours from receipt of requests from the State Securities Commission and the Exchange. securities when one of the events specified in Clause 1, Article 12 of Circular 96/2020/TT-BTC occurs and in the following cases:
+ There is relevant information affecting the offering and price of public fund certificates; shares of public securities investment companies;
+ There are unusual changes in prices and trading volume of public fund certificates; shares of public securities investment companies;
+ Other events at the request of the State Securities Commission and the Stock Exchange.
– The securities investment fund management company must disclose information at the request of the State Securities Commission and the Stock Exchange where the securities investment fund certificates are listed, clearly stating the event approved by the Commission. The State Securities Commission and the Stock Exchange require publication of the cause and degree of authenticity of that event.
