Foreign investors appear to buy shares without paying, Vietcap pays instead

Vietcap Securities Joint Stock Company (stock code VCI) has just reported a case of a foreign investor not making payment after placing an order to buy shares. Specifically, on December 17, investor Aegon Custody BV placed an order to buy 26,600 FPT shares, with a total transaction value of nearly 4 billion VND. Although the transaction was matched, Aegon Custody did not fulfill its payment obligation. Therefore, Vietcap had to pay the entire amount of nearly 4 billion VND for this transaction.

Aegon Custody BV is a fund management company based in the Netherlands, with Mr. Eric Perush as the legal representative - Global Head of Trading. This company opened a securities account with the symbol CTBFCA2571 at Vietcap.

There is a rare case where a foreign investor buys shares but does not pay.

Foreign investors buying stocks in Vietnam but lacking money has only appeared for the first time. Since November 2, new regulations have allowed foreign investors to not need enough money before placing an order to buy stocks. In case foreign investors do not pay enough money after the transaction, the payment obligation belongs to the securities company where they placed the order. The two parties agree on the amount of money required when placing an order to buy stocks, to ensure transparency and financial security.

This is different from the previous regulation, when foreign investors had to transfer enough money before placing an order to buy securities. They had to pay the transfer fee even if they could not buy. According to international organizations, the old regulation was a major barrier to foreign capital inflows into Vietnam. Therefore, the Ministry of Finance has amended the regulation to promote upgrading the stock market. Because of the new regulation, Vietcap must be responsible for paying the full transaction amount of the above-mentioned Dutch investor.

Source: https://thanhnien.vn/xuat-hien-nha-dau-tu-ngoai-mua-co-phieu-khong-tra-tien-vietcap-tra-thay-185241223090008431.htm