Legal Framework on State Management of Securitisation Activities – International Experience and Lessons for Vietnam

This article provides an overview of state regulation of securitisation activities and examines the current legal framework governing such activities in Vietnam. It further analyses the legal experiences of the United States, the European Union, and Japan, with particular emphasis on mechanisms such as risk retention, disclosure requirements, control of underlying assets, and cross-sectoral supervision. Based on a comparative assessment, the article proposes several recommendations to improve the legal framework and enhance the effectiveness of state regulation of securitisation in Vietnam, thereby contributing to the mitigation of systemic risk in the development of the domestic securitisation market.