Vietnam: What does the Stock Exchange have the right to request trading members to do when conducting supervision?
When does the Stock Exchange make periodic supervision reports?
According to the provisions of Article 13 of Circular No. 95/2020/TT-BTC on periodic transaction supervision reports as follows:
- Within the first 02 working days of the next week, the Stock Exchange shall submit the weekly supervision report to State Securities Commission, which shall contain:
+ Securities transaction data, including: numbers of orders placed, orders matched, transactions that involve primary securities, derivatives and other securities being traded on the market in the week according to information on the transaction system of the Stock Exchange. Information about market-wide transactions managed by the Stock Exchange as prescribed by regulations of law on disclosure of information on the securities market, except information about open interests of each type of derivatives;
+ Results of weekly securities transaction supervision; information about ratios of all shares in the market basket serving market evaluation (Form 01 in Appendix I hereof).
- Within the first 10 working days of the next month, on the basis of reports of the subsidiary companies, Vietnam Exchange shall submit a monthly report (Form No. 02 in Appendix I hereof) to State Securities Commission with the following primary contents:
+ Its operation and supervision of securities transactions during its operation;
+ Results of supervision by Vietnam Exchange and its subsidiary companies of unusual transactions and actions taken;
+ Results of supervision of transactions by trading members and actions taken against violations committed by trading members;
+ The report on supervision of unusual transactions and ad hoc reports prepared during the period;
+ Proposals (if any).
- Within the first 20 working days of the next year, on the basis of reports of the subsidiary companies, Vietnam Exchange shall submit an annual report (Form No. 03 in Appendix I hereof) to State Securities Commission with the following primary contents:
+ Its operation and supervision of securities transactions during its operation;
+ Results of supervision by Vietnam Exchange and its subsidiary companies of unusual transactions and actions taken;
+ Results of supervision of transactions by trading members and actions taken against violations committed by trading members;
+ The report on supervision of unusual transactions and ad hoc reports prepared during the period.
- The reports mentioned in Clauses 1, 2, 3 of this Article shall be made in both physical and electronic form, except for reports mentioned in Point a Clause 1 of this Article, which can be made in electronic forms only. These reports will be sent electronically if digital signatures are used by State Securities Commission, Vietnam Exchange and its subsidiary companies. Vietnam Exchange and subsidiary companies shall retain reported information as prescribed by law.
Vietnam: What does the Stock Exchange have the right to request trading members to do when conducting supervision?
When detecting unusual transactions, what are the responsibilities of the Stock Exchange?
According to the provisions of Article 14 of Circular No. 95/2020/TT-BTC on this content as follows:
- Stock Exchanges shall send State Securities Commission and Vietnam Exchange reports on unusual transactions that are detected within 24 hours after the unusual transaction analysis results are available.
- The unusual transaction reports mentioned in Clause 1 of this Article shall be case-specific. Each report shall specify the unusual signs, relevant information, opinions and proposed actions to be taken by the Stock Exchanges (or another authority if the case is beyond its jurisdiction).
- Unusual transaction reports shall be sent and received in accordance with Clause 4 Article 13 of this Circular.
In addition, when receiving a written request from the State Securities Commission, the Vietnam Exchange and its subsidiaries are responsible for sending a transaction supervision report in the form of paper documents and electronic data files according to the content and time limit required by the State Securities Commission.
What does the Stock Exchange have the right to request trading members to do when conducting supervision?
According to the provisions of Article 12 of Circular No. 95/2020/TT-BTC, the Stock Exchange has the following rights and responsibilities when supervising trading members:
- Trading members will be requested to provide reports, explanation, information and documents relevant to the transactions under the management of the Stock Exchanges.
- Stock Exchanges shall report signs of violations to Vietnam Exchange or State Securities Commission for handling.
- Signs violations discovered by Vietnam Exchange shall be handled by Vietnam Exchange within its jurisdiction. The handling results will be reported to State Securities Commission.
- Vietnam Exchange shall request State Securities Commission to take actions against violations committed by trading members if they are beyond Vietnam Exchange’s jurisdiction.
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