The Ministry of Finance issued a Circular amending and supplementing regulations on registration, depository and payment of securities transactions.

The Ministry of Finance has just issued Circular No. 18/2025/TT-BTC amending and supplementing a number of articles of Circular No. 119/2020/TT-BTC regulating the registration, depository, clearing and payment of securities transactions. Circular No. 96/2020/TT-BTC guiding the disclosure of information on the securities market has been amended and supplemented by Circular No. 68/2024/TT-BTC.

According to Circular 18/2025/TT-BTC effective from May 5, 2025, the sending and receiving of records and documents in the form of electronic vouchers for business activities between the Vietnam Securities Depository and Clearing Corporation and depository members, organizations opening direct accounts, issuers, and public companies shall be carried out in accordance with the business regulations of the Vietnam Securities Depository and Clearing Corporation. Electronic vouchers used in business activities prescribed in the business regulations of the Vietnam Securities Depository and Clearing Corporation shall have the same legal value as paper-based vouchers.

When providing services to customers, members of the Vietnam Securities Depository and Clearing Corporation are responsible for complying with the provisions of the Securities Law, this Circular, relevant laws and the operating regulations of the Vietnam Securities Depository and Clearing Corporation; assessing the validity of documents received from customers, performing business activities accurately, ensuring the safety of assets for customers and members of the Vietnam Securities Depository and Clearing Corporation and storing customer records and documents.

Securities depository principles

Regarding the principles of securities depository, the Circular stipulates securities depository activities at the Vietnam Securities Depository and Clearing Corporation, including: opening and managing securities depository accounts, depositing securities, withdrawing securities, transferring securities deposited outside the securities trading system, and freezing and releasing securities.

The client signs a contract to open a securities depository account with a depository member to carry out securities depository activities. After opening a depository account in accordance with regulations, the client sends a request to carry out securities depository activities to the depository member. The depository member checks, evaluates and is responsible for the accuracy of information about the securities owner, the suitability of the client's request to carry out securities depository activities with the provisions of this Circular before sending the request to carry out securities depository activities to the Vietnam Securities Depository and Clearing Corporation.

Vietnam Securities Depository and Clearing Corporation shall carry out securities depository activities at the request of depository members and organizations opening direct accounts after depository members and organizations opening direct accounts open securities depository accounts in the name of depository members and organizations opening direct accounts at Vietnam Securities Depository and Clearing Corporation.

Vietnam Securities Depository and Clearing Corporation shall conduct securities depository activities after the information about securities owners in the records provided by depository members, organizations opening direct accounts, issuers, and public companies matches the information on the system at Vietnam Securities Depository and Clearing Corporation.

New regulations on information disclosure guidelines

Circular 18/2025/TT-BTC also amends and supplements a number of articles. The Appendix of Circular No. 96/2020/TT-BTC guiding information disclosure on the stock market has been amended and supplemented a number of articles according to Circular No. 68/2024/TT-BTC.

Specifically, in case a foreign investor being an organization fails to pay for the purchase of shares to a securities company as prescribed in Clauses 6, 7, 8, Article 40k of Circular No. 119/2020/TT-BTC, the securities company where the foreign investor being an organization places a transaction order must disclose information on the information disclosure media of the State Securities Commission, the Stock Exchange, the Vietnam Securities Depository and Clearing Corporation, and at the same time disclose information on the securities company's website about the transaction of the foreign investor being an organization according to the prescribed form within 24 hours from the end of the deadline for the foreign investor being an organization to pay money to the securities company as prescribed.

The new Circular also amends and supplements Point a, Clause 1, Article 33 on "Information disclosure of insiders and related persons of insiders" as follows: At least 03 working days before the expected transaction date, insiders and related persons must disclose information about the expected transaction according to the prescribed form, except in cases where the securities company is a related person of an insider of a listed organization or an organization registering for the transaction when transferring ownership as prescribed.

Source: https://baodautu.vn/bo-tai-chinh-ban-hanh-thong-tu-sua-doi-bo-sung-quy-dinh-ve-dang-ky-luu-ky-thanh-toan-giao-dich-chung-khoan-d275068.html