Responsibilities of Members Establishing ETF Funds

According to Clause 2, Article 42 of Circular 98/2020/TT-BTC, the content is regulated as follows:

- Receiving transaction orders (directly or through the distributing agent) and transferring the transaction orders of each investor to the fund management company, the Vietnam Securities Depository and Clearing Corporation, related service providers fully, promptly, and accurately. This regulation only applies to fund founding members that are securities companies;

- Not aggregating or offsetting investors' transaction orders. Investors' transaction orders must be processed independently, separately from the processing of the founding members' transaction orders. In transactions exchanging for ETF fund certificates batches, fund founding members are only allowed to use assets in their proprietary accounts, their own assets to exchange for ETF fund certificates batches, and not allowed to use investors' assets;

- Ensuring that investors have sufficient funds, securities to conduct transactions according to the law;

- Managing investors' assets separately in each investor's account, independently from their assets. Not allowed to use investors' assets in any form; not allowed to deposit, withdraw, transfer, or conduct any transactions related to investors' assets; not allowed to receive authorization from investors or conduct transfers of funds or assets between investors' accounts. Transactions related to investors' assets are only permitted if they comply with the law and according to the legitimate, written instructions of the investor;

- Maintaining continuous and clear communication channels with investors, ensuring timely, accurate, and complete updates for investors concerning fund products offered; compiling and providing account statements, transaction confirmations upon the investors' request; providing investors with the Prospectus, Summary Prospectus, the fund's financial reports, documents of Investors' General Meeting, and other information; performing reporting duties and information disclosure as authorized by the fund management company;

- Compiling and storing detailed information about investors and their transactions. Providing this information to the fund management company, Stock Exchange, Vietnam Securities Depository and Clearing Corporation, related service providers, and the State Securities Commission of Vietnam as requested by these entities;

- Complying with the operational principles of the distributing agent.

Respectfully!