✦ Tóm lược thông minh
Circular No. 43/2010/TT-BTC amends and supplements the securities registration, safekeeping, settlement, and payment rules issued together with Decision No. 87/2007/QD-BTC. This Circular changes the name of the Securities Depository Center to the Vietnam Securities Depository (VSD) and adds new provisions regarding the responsibilities of related parties, business procedures, and technical system requirements.
Đối tượng áp dụng
Vietnam Securities Depository (VSD), depository members, customers, issuers of securities, fund management companies, investors.
Các điểm cốt lõi
- The Vietnam Securities Depository (VSD) was renamed from the Securities Depository Center.
- Depository members must have business procedures and technical systems that meet VSD's requirements.
- Customers wishing to transfer ownership of securities must go through depository members according to specific principles.
- VSD only executes transfers of ownership of securities outside the trading system for special cases.
- Depository members are responsible for updating and reconciling customer account information with VSD.
🌐 Tác động xã hội từ văn bản này
- Positive impact: Enhances the effectiveness of market supervision and protects investor rights.
- Negative impact: The requirement for depository members to upgrade their technical systems may result in high costs.
❓ Câu hỏi thường gặp
What has been the name change of the Securities Depository Center?
The Securities Depository Center has been renamed to the Vietnam Securities Depository (VSD).
What requirements must depository members meet?
Depository members must have business procedures and technical systems that meet VSD's requirements.
How do customers wish to transfer ownership of securities?
Customers wishing to transfer ownership of securities must go through depository members according to specific principles.
For which cases does VSD execute transfers of ownership?
VSD only executes transfers of ownership of securities outside the trading system for special cases such as gifts, donations, bequests, and inheritance as stipulated by the Civil Code and other specific cases.
What are the responsibilities of depository members?
Depository members are responsible for daily updating of information on opening and closing securities accounts of investors conducted at the depository member for VSD, and reconciling the balance of each customer's securities account with the ownership data of the customer at VSD.
Toàn văn
CIRCULAR
Amending and supplementing the Registration, Custody, Settlement, and Payment Rules for Securities issued together with Decision No. 87/2007/QĐ-BTC dated October 22, 2007, of the Minister of Finance.
Pursuant to the Securities Law No. 70/2006/QH11 adopted by the National Assembly on June 29, 2006;
Pursuant to Decree No. 14/2007/NĐ-CP dated January 19, 2007, of the Government detailing the implementation of certain provisions of the Securities Law;
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;
The Ministry of Finance hereby issues guidance on amending and supplementing some points in the Registration, Custody, Settlement, and Payment Rules for Securities issued together with Decision No. 87/2007/QĐ-BTC dated October 22, 2007, of the Minister of Finance (hereinafter referred to as Decision No. 87/2007/QĐ-BTC) as follows:
Article 1. Changing the name of the Securities Depository Center (abbreviated as SDT) to the Vietnam Securities Depository (abbreviated as VSD).
Article 2. Amend Point d, and supplement Point e Clause 1 Article 7 Chapter III of Decision No. 87/2007/QĐ-BTC as follows:
“d. Having business procedures for registration, custody, settlement, and payment of securities that meet the requirements of VSD.
e. A system capable of connecting to the electronic communication gateway of VSD and management software for the operation of registration, custody, settlement, and payment of securities that meets the requirements of VSD.”
Article 3Amend and supplement Clause 8 Article 12 Chapter III of Decision No. 87/2007/QĐ-BTC as follows:
“8. Being withdrawn from securities brokerage activities or having the Certificate of Registration for Securities Custody revoked by the State Securities Commission pursuant to Clause 2 Article 51 of the Securities Law (for custodian members).”
Article 4. Amend and supplement Clause 1 Article 18 Chapter IV of Decision No. 87/2007/QĐ-BTC as follows:
“1. The transfer of ownership rights over listed/traded securities shall be carried out according to the following principles:
a. The holder of securities wishing to transfer ownership rights over securities must deposit the securities with VSD through custodian members to trade securities on the Stock Exchange or transfer ownership rights as provided for in Sub-clause b of this Clause (except in cases of inheritance or when the issuer repurchases shares from employees upon termination of employment contracts).
b. VSD will only carry out the transfer of ownership rights over securities outside the securities trading system for transactions that do not have a nature of buying and selling or cannot be executed through the trading system at the Stock Exchange, in the following cases:
- Gift, donation, or inheritance of securities in accordance with the Civil Code.
- Odd-lot securities transactions in accordance with the laws on securities and the securities market.
- Issuer/Issuers' Trade Union repurchasing preferential shares of officers and employees upon termination of employment contracts to form treasury shares or issue bonus shares to officers and employees.
- Issuer using treasury shares to reward/share bonus shares among officers and employees.
- Securities transactions of founding shareholders during restricted transfer periods.
- Issuer changing strategic shareholders during restricted transfer periods.
- Cases of securities transactions registered with VSD and approved in principle by the Stock Exchange but not yet officially listed.
- Investors entrusting the transfer of their securities ownership to fund management companies in cases where fund management companies manage entrusted investment portfolios with assets.
- Fund management companies transferring entrusted securities ownership to entrusting investors or other fund management companies upon termination of investment portfolio management contracts or dissolution, bankruptcy of fund management companies, or returning entrusted assets to investors or transferring asset portfolios to other fund management companies for management.
- Cases of ownership transfers pursuant to court decisions.
- Splitting, merging, consolidating, contributing shares to establish enterprises or redefining financial management mechanisms of enterprises in accordance with the Civil Code, Enterprise Law, and Securities Law.
- Other ownership transfers not having the nature of buying and selling transactionsmust be SECNN approved.”
Article 5. Amend and supplement Clause 1, Article 21, Chapter V of Decision No. 87/2007/QĐ-BTC as follows:
“1. The deposit of securities by customers with VSD shall be carried out on the principle that customers deposit securities with depositary members and depositary members re-deposit customers' securities with VSD.”
Article 6. Amend and supplement Clause 3, 5 "d) Within no more than one working day from the date of receiving the dossier submitted for administrative procedures by the specialized agency assigned by the Provincial People's Committee, the Chairman of the Provincial People's Committee shall issue a notification of the result of the inspection of plant-based food exports or a certificate at the request of the importing country." Chapter V of Decision No. 87/2007/QĐ-BTC as follows:
“3. The total balance on the securities deposit accounts opened by customers at depositary members must always match the balance of the deposit accounts of depositary members opened at VSD. The detailed balance on each customer's securities deposit account at depositary members must match the ownership data of that customer at VSD.
5. When discovering errors in the information in the securities deposit account of a member or the customer of a member, VSD must immediately notify the member, and the member is responsible for adjusting accordingly.”
Article 7. Supplement Point f, Clause 1, Article 26, Chapter V of Decision No. 87/2007/QĐ-BTC as follows:
“f. Depositary members are responsible for updating daily information on opening and closing securities deposit accounts of investors implemented on the same day at depositary members to VSD and performing reconciliation of the balance information of each customer's deposit account with the ownership data of the customer at VSD based on the ownership data of the customer provided by VSD to depositary members. The procedures and formalities for updating account information and reconciling balances are carried out according to the regulations of VSD.”
Article 8. Amend Clause 3, Article 27, Chapter V of Decision No. 87/2007/QĐ-BTC as follows:
“3. UBCKNN provides specific guidance on the deadline for executing sales of securities after transactions, after approval by the Ministry of Finance.”
“3. VSD implements the request to deposit securities for investors simultaneously with registering securities when requested by the Issuing Organization representing shareholders. VSD stipulates the dossier and procedures for depositing securities in this case.
4. In cases where the Issuing Organization manages securities through bookkeeping accounts without issuing share certificates, the depositing of securities by investors is carried out according to the guidelines of VSD.”
Article 10. Repeal Point a, f, g, h and amend and supplement Point i, k, Clause 1, Article 30, Chapter V of Decision No. 87/2007/QĐ-BTC as follows:
“i. When the depositary member where the customer has an account is revoked of its status as a member, the Certificate of Depositary Business Operation is recalled, the brokerage business is withdrawn, or the member is revoked of its depositary member status by VSD.
k. Cases of transferring ownership as prescribed in Point b, Clause 1, Article 4 of this Circular.”
Article 11. Repeal Clause 4 and amend and supplement Clause 3, Article 32, Chapter VI of Decision No. 87/2007/QĐ-BTC as follows:
“3. For transactions of buying and selling listed securities/traded securities, VSD shall settle based on the transaction results provided by the Stock Exchange.”
Article 12. Amend and supplement Clause 1, 2, Article 40, Chapter VI of Decision No. 87/2007/QĐ-BTC as follows:
“1. VSD has the right to cancel settlement transactions in the following cases:
- A member loses the ability to settle transactions after applying measures as prescribed but cannot overcome it.
- A member/customer member sells short securities without instructions from the Ministry of Finance.
- Information about the customer's trading account related to the time of securities settlement is not updated according to VSD regulations.
2. A depositary member whose transaction is canceled must bear full responsibility for losses incurred by customers and related members due to the transaction not being settled. The compensation amount the parties negotiate freely but shall not exceed ten percent (10%) of the transaction value shall have their payment revoked.”
Article 13. Amend Clause 2 of Article 41, Chapter VI of Decision No. 87/2007/QĐ-BTC as follows:
“2. For transactions of unlisted public companies, when it is discovered that the account of a member does not have sufficient funds, the account of a member/client of a member lacks securities for settlement, or information about the transaction account of a client related to such transactions has not been updated according to the regulations of VSD at the time of settlement of securities transactions, VSD shall handle such transactions in accordance with the operational guidelines of VSD.”
Article 14. Amend Clause 2 and supplement Clauses 7 and 8 of Article 42, Chapter VII of Decision No. 87/2007/QĐ-BTC as follows:
“2. Having a subscribed capital contribution of over 50,000 billion VND.
7. Having at least 10 members of VSD commit to registering to open a securities trading settlement account after being approved as a Settlement Bank and not refusing when a VSD member requests to use Settlement Bank services.
8. The system must be capable of retaining transaction information data for at least one year and able to provide it immediately to the Securities Commission or VSD within one day upon request.”
Article 15.Effective Date:
1. This Circular takes effect after 45 days from the date of signature. In cases where VSD's depositary members fail to meet the conditions stipulated in Article 2 of this Circular, they must complete system upgrades and operational procedure modifications no later than three months from the date this Circular takes effect.
2.During implementation, if there are any difficulties, units are requested to promptly report them to the Ministry of Finance for study. Method and location./.
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Căn cứ 3
118/2008/NĐ-CP
Nghị định số 118/2008/NĐ-CP Quy định chức năng, nhiệm vụ, quyền hạn và cơ cấu tổ chức của Bộ Tài chính
Hết hiệu lực
70/2006/QH11
Luật Chứng khoán số 70/2006/QH11
Còn hiệu lực
14/2007/NĐ-CP
Nghị định số 14/2007/NĐ-CP Quy định chi tiết thi hành một số điều của Luật Chứng khoán
Hết hiệu lực
Bị thay thế bởi 1
43/2010/TT-BTC
Circular No. 43/2010/TT-BTC Amending and Supplementing the Securities Registration, Safekeeping, Settlement, and Payment Rules issued together with Decision No. 87/2007/QD-BTC dated October 22, 2007 of the Minister of Finance.
Expired
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Dẫn chiếu 2
Sửa đổi, bổ sung 1
Hướng dẫn 1
149/QĐ-VSD
Quyết định số 149/QĐ-VSD Về việc ban hành quy chế cấp mã chứng khoán trong nước và cấp mã số định danh chứng khoán quốc tế tại trung tâm lưu ký chứng khoán Việt Nam
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Văn bản này có sẵn ở các ngôn ngữ sau:
Tiếng Việt
Thông tư số 43/2010/TT-BTC Sửa đổi, bổ sung Quy chế đăng ký, lưu ký, bù trừ và thanh toán chứng khoán ban hành kèm theo Quyết định số 87/2007/QĐ-BTC ngày 22 tháng 10 năm 2007 của Bộ trưởng Bộ Tài chính
한국어
통지 제 43/2010/TT-BTC 증권 등록, 보관, 상계 및 결제 규정을 수정하고 보완하며, 재무부 장관이 2007년 10월 22일에 발표한 결정 제 87/2007/QĐ-BTC에 부속하여 공포된 증권 등록, 보관, 상계 및 결제 규정을 수정하고 보완함
中文
通知2010年第43号令修改、补充证券登记、托管、清算和结算规则，该规则由2007年第87号决定发布，该决定于2007年10月22日由财政部部长作出。