Foreign investors buying FPT shares are slow to pay, Ms. Nguyen Thanh Phuong's company must pay

Vietcap Securities Joint Stock Company, chaired by Ms. Nguyen Thanh Phuong, has submitted a report to the Securities Commission regarding a foreign investor's purchase ofFPT shares that has not yet been paid for.

Foreign investors can buy shares even without sufficient funds, causing securities companies to worry about being scammed - Photo: QUANG DINH

Circular 68 of the Ministry of Finance stipulates that investors do not need to have sufficient funds to purchase shares, effective from November 2nd.

In a report recently submitted to the Securities Commission, Vietcap Securities Joint Stock Company reported a case where a foreign investor did not make an advance payment, but had not yet made the final payment.

Specifically, Aegon Custody BV - an institutional investor from the Netherlands - placed and executed a buy order for 26,600 FPT shares on December 17th.

The total amount owed by the foreign investor is nearly 4 billion VND; however, since the investor has not yet paid, Vietcap Securities is obligated to make the payment.

This applies according to the new regulations in Circular 68, where if a foreign investor fails to pay the full amount for a transaction, the payment obligation will transfer to the securities company where the investor placed the order through their proprietary trading account.

Previously, foreign investors had to transfer the full amount of money before placing a securities purchase order. Even if they couldn't buy the securities, they still had to pay a fee for transferring money from abroad to Vietnam and vice versa.

International rating agencies consider this a barrier to foreign capital inflow into Vietnam and recommend that Vietnam remove it to accelerate the process of upgrading its stock market.

After two rounds of public consultation and further refinement, Mr. Nguyen Duc Chi, Deputy Minister of Finance, has signed and issued a circular amending and supplementing several articles on transactions, clearing and settlement, and information disclosure in the securities market.

The circular clearly states that securities companies must assess the payment risk of foreign institutional investors to determine the amount of cash required when placing a share purchase order as agreed upon by both parties.

Source: https://tuoitre.vn/nha-dau-tu-ngoai-mua-co-phieu-fpt-cham-thanh-toan-cong-ty-cua-ba-nguyen-thanh-phuong-phai-tra-20241221182728383.htm