Circular No. 151/2009/TT-BTC guides the supervision work of the State Securities Commission over securities activities of the Stock Exchange and the Securities Depository Center.

CIRCULAR

Guidelines for the State Securities Commission's supervision work over activities in the securities sector

of the Stock Exchange and the Central Depository

 _________________________

Pursuant to the Securities Law No. 70/2006/QH11 dated June 29, 2006;

Pursuant to Decree No. 14/2007/NĐ-CP dated January 19, 2007 of the Government detailing certain provisions of the Securities Law No. 70/2006/QH11 dated June 29, 2006;

Pursuant to Decree No. 36/2007/NĐ-CP dated March 8, 2007 of the Government on administrative penalties in the securities and securities market sectors;

Pursuant to the Decree No. 118/2008/NĐ-CP dated November 27, 2008 of the Government stipulating the functions, tasks, powers, and organizational structure of the Ministry of Finance;

Pursuant to Decision No. 63/2007/QĐ-TTg dated May 10, 2007 of the Prime Minister on the functions, tasks, powers, and organizational structure of the State Securities Commission under the Ministry of Finance;

The Ministry of Finance issues guidelines on the State Securities Commission's supervision work over activities in the securities sector of the Stock Exchange and the Central Depository as follows:

This technical regulation sets out technical requirements, testing methods, sampling procedures; management requirements; responsibilities of organizations and individuals producing, trading, and importing cigarettes.

Thông tư này quy định chi tiết khoản 4 Điều 38 Luật Thủy sản số 18/2017/QH14 đã được sửa đổi, bổ sung tại điểm c khoản 21 Điều 14 Luật số 146/2025/QH15.

These guidelines provide guidance on the State Securities Commission's supervision work over activities in the securities sector of the Stock Exchange and the Central Depository in compliance with the Securities Law and related legal regulations.

2. The State Securities Commission shall be responsible in accordance with Clause 1 of Article 8 of the Securities Law and Clauses 5 and 6 of Article 2 of Decision No. 63/2007/QĐ-TTg dated May 10, 2007 of the Prime Minister regarding the State Securities Commission's supervision work over the activities of the Stock Exchange and the Central Depository. Every six months and annually, it shall compile and report on the evaluation of the supervision work of the Stock Exchange and the Central Depository to the Ministry of Finance.

3. Supervision methods

a) The State Securities Commission carries out supervision based on information from sources including reports from the Stock Exchange and the Central Depository; reports from securities companies; reports from public companies; reports and reflections from organizations and individuals participating in trading on the market and information from mass media and rumors.

b) The State Securities Commission takes the lead and coordinates with relevant units to conduct regular or irregular inspections of the Stock Exchange and the Central Depository.

II. CONTENT OF THE STATE SECURITIES COMMISSION'S SUPERVISION OVER THE STOCK EXCHANGE

The State Securities Commission supervises the activities of the Stock Exchange in accordance with Article 37 of the Securities Law as follows:

1. Regarding the issuance of documents governing securities business operations:

- Types of documents: Membership rules; Securities trading rules; Trading monitoring rules; Listing rules; Information disclosure rules and other rules, regulations, and procedures issued by the Stock Exchange relating to securities and the securities market.

- Procedures and formalities for issuing documents.

- Content of issuance, amendment, and supplementation of documents.

2. Regarding securities trading management:

- Trading management activities: Organizing securities trading activities; Changing trading systems; Changing trading times, suspending trading; Changing trading methods; Changing price fluctuation limits; Establishing and canceling transactions and other activities related to trading management.

- Procedures, formalities, and organization of implementation.

3. Management of trading members:

- Procedures and formalities for approving trading members.

- Suspending trading member status.

- Terminating trading member status.

- Issuing, suspending, and revoking trading representative cards; reissuing and extending trading representative cards.

- Other activities related to trading member management.

4. Management of listing/trading registration of securities:

- Procedures and formalities for initial listing/trading registration.

- Procedures and formalities for changing listing/trading registration.

- Procedures and formalities for delisting/trading registration cancellation.

- Other activities related to listing/trading registration management.

5. Conducting share auctions and bond tenders at the Stock Exchange:

- Procedures and formalities for registering and approving the organization of auctions and tenders.

- Organizing auction and tender activities.

6. Supervision activities at the Stock Exchange:

a) Organization and operation of the supervisory apparatus.

b) Trading supervision:

- Securities trading supervision at the Stock Exchange.

- Securities subject to control and trading suspension.

- Reporting and information disclosure regimes of major shareholders, insider shareholders, and related parties of listed/traded organizations.

- Mediation activities for disputes arising from securities trading at the Stock Exchange.

c) Trading member supervision:

- Supervision of the maintenance of trading member conditions.

- Supervision of trading member securities trading activities.

- Supervision of trading member reporting and information disclosure regimes.

- Handling violations by trading members.

d) Listing/trading registration supervision:

- Supervision of the maintenance of listing/trading registration conditions for listed/traded organizations.

- Supervision of listed/traded organization reporting and information disclosure regimes.

- Handling violations concerning listing/trading registration of securities.

7. Implementation of reporting and information disclosure regimes of the Stock Exchange:

- Information disclosure in accordance with legal regulations.

- Regular reports.

- Abnormal reports.

- Reports upon request.

8. Construction, maintenance, protection of databases and retention of original documents related to securities business activities.

9. Information technology systems serving the supervision work of the Stock Exchange.

10. Internal control work over the Stock Exchange's business activities.

11. Other activities organized by the Stock Exchange related to securities and the securities market.

III. CONTENT OF THE STATE SECURITIES COMMISSION'S SUPERVISION OVER THE CENTRAL DEPOSITORY

The State Securities Commission supervises the activities of the Central Depository in accordance with Articles 45 and 46 of the Securities Law as follows:

1. Regarding the issuance of documents:

- Type of document: Settlement Member Regulations; Securities Registration, Custody, Netting, and Settlement Regulations; Securities Owner Rights Implementation Regulations; Securities Code Issuance Regulations; Other regulations, provisions, procedures issued by the Securities Depository Center.

- Procedures and formalities for issuing documents.

- Content of issuance, amendment, and supplementation of documents.

- Implement new regulations, amend, and supplement documents.

2. Management and supervision of settlement members:

- Procedures and formalities for approving settlement members;

- Procedures and formalities for suspending and terminating the status of settlement members;

- Activities of registration, custody, and related activities of settlement members.

- Handling violations by settlement members.

3. Provision of securities registration, custody, netting, and settlement services and other related services.

4. Post-trade error resolution activities.

5. Risk management activities for each business operation of the Securities Depository Center.

6. Compensation for losses suffered by customers of the Securities Depository Center.

7. Issuance and management of trading codes for foreign investors.

8. Issuance and management of securities codes.

9. Construction, maintenance, protection of databases, and retention of original documents regarding registration, custody, netting, and settlement of securities in accordance with current laws.

10. Providing information related to securities ownership upon request.

11. Implementing reporting and disclosure systems on securities custody operations in accordance with the law.

12. Information technology systems serving the monitoring work of the Securities Depository Center.

13. Internal control work for business operations of the Securities Depository Center.

14. Other activities of the Securities Depository Center related to securities and the securities market.

IV. OBLIGATIONS OF THE SECURITIES EXCHANGE AND THE SECURITIES DEPOSITORY CENTER

The Securities Exchange and the Securities Depository Center shall perform obligations related to supervisory work as stipulated in Article 38, Article 46, and Article 107 of the Securities Law specifically as follows:

1. Obligations of the Securities Exchange and the Securities Depository Center

a) Fully implement obligations as prescribed by the Securities Law and relevant legal documents; Timely provide complete and accurate information, documents, and electronic data related to supervisory content at the request of the State Securities Commission and bear responsibility for the completeness and accuracy of the provided information, documents, and electronic data.

b) Adhere to the Charter of the Securities Exchange and the Securities Depository Center; Adhere to regulations and procedures issued by the Securities Exchange and the Securities Depository Center.

c) Organize and implement internal control activities to ensure compliance with laws and regulations issued by the Securities Exchange and the Securities Depository Center.

2. Periodic Reporting to the State Securities Commission

a) Monthly Report: The Securities Exchange prepares reports according to the contents specified in Points 1, 2, 3, 4, 5, and 6 Section I Appendix 01 of this Circular. The Securities Depository Center prepares reports according to the contents specified in Points 1, 2, 3, and 4 Section I Appendix 02 of this Circular. The monthly report must be submitted to the State Securities Commission within the first ten working days of the following month.

b) Annual Report: The Securities Exchange prepares reports according to the contents specified in Appendix 01 of this Circular. The Securities Depository Center prepares reports according to the contents specified in Appendix 02 of this Circular. The annual report must be submitted to the State Securities Commission within the first twenty working days of the following year.

c) Reports specified in Subpoint a, b Point 2 of this Section are prepared in both written form and electronic data format. The Securities Exchange and the Securities Depository Center are responsible for retaining reported information in accordance with the law.

3. Unusual Reporting to the State Securities Commission

The Securities Exchange and the Securities Depository Center are responsible for submitting unusual reports to the State Securities Commission as follows:

a) Situations requiring unusual reports include:

- Issuing new documents, or supplementing, amending existing documents;

- Handling violations by members or entities under their jurisdiction;

- When receiving complaints, appeals, lawsuits from organizations or individuals related to the activities of the Securities Exchange and the Securities Depository Center.

b) Reports sent to the State Securities Commission about events mentioned in Subpoint a Point 3 of this Section must be in written form and electronic data format and within twenty-four (24) hours from issuance, handling, or receipt of complaints, appeals by the Securities Exchange and the Securities Depository Center.

4. Reporting upon Request of the Ministry of Finance, State Securities Commission

The Securities Exchange and the Securities Depository Center are responsible for submitting reports upon request of the Ministry of Finance, State Securities Commission. Reports sent to the Ministry of Finance, State Securities Commission must be in written form and electronic data format within the time limit set by the Ministry of Finance, State Securities Commission.

5. Duty to Explain and Undergo Inspection by the State Securities Commission

a) Upon request, the Securities Exchange and the Securities Depository Center have the duty to explain and undergo inspection by the State Securities Commission regarding compliance with laws, Charters, and regulations of the Securities Exchange and the Securities Depository Center.

b) The Securities Exchange and the Securities Depository Center have the duty to comply with decisions of competent state management agencies.

V. VIOLATION HANDLING

1. Organizations and individuals who abuse their positions or powers in performing supervisory duties, engage in harassment, causing difficulties that affect the lawful operations of the Securities Exchange and the Securities Depository Center; fail to promptly resolve issues within their responsibilities and tasks as required by law will be subject to disciplinary action or legal prosecution depending on the nature and severity of the violation as stipulated by current laws.

2. Where the Securities Trading Exchange and the Securities Depository Center engage in acts violating the law related to the supervisory contents as prescribed in this Circular, they shall be subject to administrative penalties or be held accountable according to the current laws, depending on the severity and nature of the violation.

VI. IMPLEMENTATION

1. The State Securities Commission is responsible to the Ministry of Finance for implementing supervision according to annual programs and plans regarding the activities of the Securities Trading Exchange and the Securities Depository Center in complying with securities law regulations as stipulated in this Circular.

2. This Circular shall take effect 45 days from the date of signature.

3. Any amendments or supplements to this Circular shall be decided by the Minister of Finance.