Abstract

Decree No. 306/2025/ND-CP, which amends and supplements several provisions of Decree No. 156/2020/ND- CP, introduces significant changes to the legal framework governing administrative sanctions in the securities sector. This article analyzes the key amendments introduced by Decree No. 306/2025/ND-CP concerning private placements of corporate bonds, the responsibilities of intermediary institutions, corporate governance in public companies, and anti-money laundering. On this basis, the article identifies several issues arising in the implementation of these provisions and proposes recommendations to enhance the effectiveness of law enforcement relating to administrative sanctions in the securities sector, thereby contributing to the transparency, fairness, and sustainable development of Vietnam’s securities market.

Keywords: Administrative sanctions, Decree No. 156/2020/ND-CP, Decree No. 306/2025/ND-CP, securities, securities market.