What is date of not accepting deposit, withdrawal and transfer of securities at the Vietnam Securities Depository?

What is date of not accepting deposit, withdrawal and transfer of securities at the Vietnam Securities Depository?

Pursuant to Article 3 of the Regulation on Securities Activities issued together with Decision 114/QD-VSD in 2021, the date of not accepting deposit, withdrawal and transfer of securities at the Vietnam Securities Depository is as follows:

1. VSD notifies depository members of not accepting deposits, withdrawing securities, or transferring funds on the days VSD converts bonds into shares or swaps shares within 10 working days from the date of receipt information from the issuers.

2. In case VSD is unable to fulfill the customer's request for technical reasons, VSD shall notify VSD/direct account opening organization within 01 working day from the date of arising technical problem about the reason and time that VSD do not accept deposits, withdrawals, transfers and blockade and release of securities.

What are general regulations on securities depository records at the Vietnam Securities Depository?

According to Article 4 of the Regulation on Securities Activities issued together with Decision 114/QD-VSD in 2021, the general regulations on securities depository records at the Vietnam Securities Depository are as follows:

1. Securities depository dossiers (documents of deposit, withdrawal, transfer, blockade and release of securities, adjustment of investor information) must contain sufficient documents as prescribed, and be affixed with a seal on the securities depository. with attached documents (if any), the content of the voucher must show all information, the same ink color and original signature of the investor (if any). The certification part of the VSD on the voucher must contain the full contents of the seal, original signature and full name of the authorized representative to sign the document registered with VSD in accordance with the regulations of VSD's depository member. In case the investor is an organization, the investor's application must have the signature of the authorized person and the seal of that organization. In case the investor is a foreign organization that does not use the seal, on the basis of customer identification information managed at depository members,

2. In case securities owners are foreign organizations based in foreign countries, they can use SWIFT electrical instructions for VSD's depository members to replace the documents required by investors to be prepared in the dossiers. relevant documents (such as deposit/withdrawal slip, request for information adjustment...) when: (i) The contents of the SWIFT telegram must include all information according to the forms specified in each activity. specific professional activities in this Regulation; (ii) depository members must translate and certify the content and authenticity of the SWIFT telegram and attach other documents (if any).

3. In case of authorization for securities depository, the investor must have a written authorization clearly stating the content and scope of authorization. If the power of attorney is in a foreign language, it must be accompanied by a certified translation into Vietnamese by a competent authority. In case the authorized recipient is an organization, the documents related to the securities depository must have the signature of the authorized person and the seal of that organization. Depository members is responsible for checking the validity of the investor's authorization.

4. For affiliates, VSD will process depository documents after receiving full and valid documents from them as prescribed for each operation in this Regulation and electronic documents sent to VSD via electronic documents sent by depository members to VSD by electronic communication portal/online communication portal.

5. For the VSD, the VSD shall process the depository documents after receiving the complete and valid documents from the organization in accordance with regulations applicable to each operation in this Regulation.

What is opening a securities depository account of a depository member at the Vietnam Securities Depository? 

In Article 5 of the Regulation on Securities Activities issued together with Decision 114/QD-VSD in 2021, the general provisions on opening a securities depository account of a depository member at the Vietnam Securities Depository are as follows:

1. Organizations registered to be VSD's depository members shall open a securities depository account at VSD after completing the procedures for registration of a securities depository under the provisions of the VSD's Regulations on depository members.

2. VSD issues a securities depository account number and account number to a securities depository member according to the principles specified in the VSD's Regulations on depository members and the issuance of the number is carried out concurrently with the issuance of the Securities Depository Certificate.

3. The opening of a securities depository account of a depository member at VSD shall comply with the provisions of Articles 14 and 15 of Circular 119/2020/TT-BTC dated December 31, 2020 of the Minister of Finance on regulations. regulates activities of securities registration, depository, clearing and settlement (hereinafter referred to as Circular 119/2020/TT-BTC).

Best Regards!