Info disclosure deadline extension sought for bond sales proceeds

HCMC – The Vietnam Bond Market Association (VBMA) has proposed extending the deadline for disclosing information on the use of proceeds from bond sales for the outstanding bonds issued via private placement in 2022.

It suggested that the deadline be June 30 instead of March 31, 2023.

The proposal came as the association has got complaints from its members about their inability to monitor the flow of proceeds from bond sales, making them unable to disclose information timely.

Banks and financial and securities firms also said that they lacked the information technology capability to track the cash flow from bond sales, which left them at risk of breaching the regulations on information disclosure and being unable to launch new bond issues in 2023.

VBMA also asked the Ministry of Finance to promptly provide guidelines for auditing the use of proceeds from bond sales and proposed the Government consider removing such regulations.