The new law’s emphasis on transparency means that banking and finance lawyers must ensure that their clients are ready to disclose relevant financial information. This includes assisting credit institutions in the clear explanation of risk provisions and profits in financial reports. Banking and finance lawyers play a vital role in revising and preparing financial documents that meet the stipulations of the amended law, safeguarding clients from non-compliance repercussions.
Additionally, banking and finance lawyers are advising clients on early intervention termination procedures. They are ensuring that the State Bank of Vietnam’s (SBV) requirements for monitoring and supervising credit institutions are understood and adhered to, helping clients correct conditions that could lead to early intervention.
Comments