The survey delegation of the Committee on National Defense, Security and Foreign Affairs worked with VNDirect Securities Corporation.

VNDirect Securities Corporation's report shows that over the years, the Company has always focused on communicating and disseminating laws on personal data protection to all employees. Communication and dissemination of laws on personal data protection are carried out in various forms, such as communication via the Company-wide Email system; communication through direct and online meetings/training sessions for employees on the contents of legal regulations and the Company's regulations on personal data protection, etc.

Deputy Chairman of the National Defense, Security and Foreign Affairs Committee Nguyen Minh Duc speaks at the meeting.

The Company has fully implemented the notification of personal data processing for data subjects who are customers, partners and employees to ensure the rights of data subjects. The content of the notification of personal data processing is implemented through the Policies, regulations sent, posted, or agreements, documents that customers, partners, employees sign, confirm and agree with the Company. Conduct review and assessment of compliance with personal data protection at the Company and complete the personal data protection assessment profile to submit to the competent authority...

Faced with the reality of some difficulties and problems in protecting personal data, the Company recommends continuing to improve policies and laws in this field.

Commenting on the draft Law on Personal Data Protection, regarding the rights of data subjects (Article 8), the Company believes that there should be specific guidance for this Clause to avoid the risk of "abuse of rights" or disruption to data controllers, data processors, especially financial institutions such as securities companies and banks - where data processing serves financial/securities transactions, legal compliance, auditing, and anti-money laundering.

Working scene

With the provision on the right to withdraw consent in Clause 4, Article 8, the reality at banks and securities companies shows that data processing is not only based on consent, but also a mandatory legal obligation (eKYC, fraud prevention, FATCA reporting, AML/CFT compliance, record keeping, compliance reporting to State management agencies...). Therefore, there should be a provision on the withdrawal of consent that does not invalidate mandatory storage obligations under the law.

Regarding Clause 9, Article 10, the Company believes that this provision will lead to difficulties in implementing the notification to data subjects in practice. In many cases, the processing of personal data includes basic personal data and sensitive personal data. The provision of a separate notification in the "processing of sensitive personal data, the data subject must be notified that the data to be processed is sensitive personal data" will lead to difficulties in implementation. Therefore, it is recommended that there is no separate provision but that the notification of personal data processing be implemented in accordance with the general provisions on notification of personal data processing.

Member is a full-time National Assembly Deputy at the Committee on National Defense, Security and Foreign Affairs Tran Duc Thuan speaking

Speaking at the meeting, Deputy Chairman of the National Defense, Security and Foreign Affairs Committee Nguyen Minh Duc highly appreciated the performance of VNDirect Securities Corporation; noting that in recent years, the Company has not detected any internal violations of the law on personal data protection, and the Company's collection, protection and processing of personal data are all guaranteed to comply with relevant legal regulations.

The Vice Chairman of the Committee for National Defense, Security and Foreign Affairs shared the practical difficulties and acknowledged the practical opinions and recommendations of VNDirect Securities Corporation; stating that the Committee will study and absorb to complete the development of the Law on Personal Data Protection, in order to perfect the legal system on personal data protection, create a legal corridor for personal data protection, and improve the capacity to protect personal data for organizations, individuals and society.

News and photos: T. Thanh

Source: https://daibieunhandan.vn/doan-khao-sat-cua-uy-ban-quoc-phong-an-ninh-va-doi-ngoai-lam-viec-voi-cong-ty-cp-chung-khoan-vndirect-post410570.html