During a working session with the National Assembly's Economic and Financial Committee delegation on the afternoon of 15/6, Vu Thi Chan Phuong, Chairwoman of the State Securities Commission (SSC), stated that a key focus of the new legal framework amendment is the addition of new policy groups, such as a regulatory sandbox mechanism for the securities sector and bond payment guarantee organizations.

A sandbox is a mechanism allowing businesses to implement new products, services, or business models within limited parameters regarding time, scale, and customer groups, all under regulatory oversight. The inclusion of a sandbox in the draft amended Securities Law aims to create a legal space for testing new initiatives before their widespread market application.

This mechanism is expected to support innovation in the securities sector, especially concerning financial technology (fintech) applications, digital transactions, and new investment products. The trial results can also serve as a basis for regulators to assess risks and refine the official legal framework in the future.

Vu Thi Chan Phuong, Chairwoman of the State Securities Commission, speaks at the working session. Photo: SSC

Beyond the sandbox, the draft amendment and supplement to the Securities Law focuses on simplifying business investment conditions and administrative procedures. The law will also be revised to enhance digital transformation, electronic transactions, and the application of information technology in securities activities and the operations of market intermediaries. Agencies are also reviewing and amending regulations to ensure the synchronicity and consistency of the legal system, facilitating implementation and application after promulgation.

The SSC Chairwoman stated that this research for amending and supplementing the Securities Law aims to perfect institutions, cut and simplify administrative procedures, improve the business investment environment, and develop the private economy in line with Resolution 68. Concurrently, it also seeks to foster a safe, transparent, efficient, and sustainable capital market.

Industry leaders shared that the project's objective is to select truly urgent content with clear political, legal, and practical bases for focused amendments. Additionally, the new legal framework will ensure the inheritance of relevant regulations, addressing current challenges to market development and state management requirements in the coming period.

At the working session, Nguyen Duc Chi, Deputy Minister of Finance, emphasized that amending the Securities Law must meet the requirements of institutional improvement, promote capital market development, and enhance the efficiency of resource mobilization for the economy. Furthermore, new regulations must be thoroughly researched, referencing good international practices to boost market attractiveness and meet the requirements for upgrading Vietnam's stock market ranking in the near future.

Tat Dat