Responsibilities of Securities Companies in Performing Securities Brokerage Services

Responsibilities of Securities Companies in Conducting Securities Brokerage Activities as stipulated in Article 13 of Circular 121/2020/TT-BTC. To be specific:

- Securities companies must assign securities practitioners to work in the following positions:

+ Advising, explaining contracts, and performing procedures for opening securities trading accounts for clients;+ Advising clients on securities transactions;+ Receiving orders and controlling client securities trading orders;+ Heads of departments related to securities brokerage activities.

- Securities companies must comply with regulations on anti-money laundering in accordance with current legal provisions.

- Data on brokerage accounts of clients opened at securities companies must be centrally managed and backed up at a different location.

- Securities companies conducting brokerage activities are prohibited from:

+ Giving opinions on the increase or decrease of stock prices without basis to entice clients to trade;+ Agreeing on or specifying interest rates or sharing profits or losses with clients to entice them to trade;+ Directly or indirectly establishing fixed locations outside the trading venues approved by the State Securities Commission to sign contracts for opening trading accounts with clients, receive orders, execute securities transactions, or settle securities transactions with clients, unless conducting online securities transactions;+ Receiving orders or settling transactions with individuals who are not the account holders without written authorization from the account holders;+ Disclosing clients' order transaction details or other confidential information obtained while conducting transactions for clients, except for information disclosure or inspection requirements as mandated by law;+ Using the name or account of a client to register or trade securities;+ Infringing on the assets, rights, and other interests of clients.

Sincerely