What documents are needed for changing depository account information regarding financial instruments in Vietnam?

What is “depositing of an financial instrument at State Bank of Vietnam (SBV)"?

Pursuant to Clause 2 Article 3 of the Circular 16/2022/TT-NHNN stipulating as follows:

Definitions

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2. “depositing of an financial instrument at SBV” means the act of accepting, maintaining, transferring and performing actions relating to the ownership of the financial instrument deposited by a member directly at the SBV or on the SBV’s client account opened at the Vietnam Securities Depository and Clearing Corporation (hereinafter referred to as “VSDC”) in order to ensure the holder's rights and benefits associated with the financial instrument and perform some operations at the SBV.

As regulations above, depositing of an financial instrument at SBV means the act of accepting, maintaining, transferring and performing actions relating to the ownership of the financial instrument.

What documents are needed for changing depository account information regarding financial instruments in Vietnam?

Pursuant to Article 7 of the Circular 16/2022/TT-NHNN stipulating changing depository account information regarding financial instruments in Vietnam as follows:

Changing depository account information

1. If there is any change in details about its financial instrument depository account in respect of the documents included in the application specified in Clause 1 Article 6 of this Circular, within 15 days from the occurrence of the change, the account holder shall notify and provide the SBV (the SBV’s Operations Center) with the following relevant legal documents and materials:

a) The notice of changes in financial instrument depository account opened at SBV which is made according to Appendix 1c/LK enclosed herewith (03 copies);

b) The list of specimen seals and signatures for using depository account at the SBV which is made according to Appendix 1b/LK enclosed herewith (03 copies);

c) The documents specified in Points c, d, dd and e Clause 1 of Article 6.

2. The documents in Point a, b Clause 1 of this Article must be original copies and bear the signature and seal of lawful representative of the applicant. The documents in Point c Clause 1 of this Article are copies from the master registers or certified true copies or copies presented together with their originals for verification purposes or certified electronic copies of the original copies. If any documents included in the submitted application are made in foreign language, their Vietnamese translations which must be notarized or certified in accordance with regulations of law shall be required.

As regulations above, within 15 days from the occurrence of the change, the account holder shall notify and provide the SBV (the SBV’s Operations Center) with the following relevant legal documents and materials:

- The notice of changes in financial instrument depository account opened at SBV which is made according to Appendix 1c/LK enclosed herewith (03 copies);

- The list of specimen seals and signatures for using depository account at the SBV which is made according to Appendix 1b/LK enclosed herewith (03 copies);

- The documents specified in Points c, d, dd and e Clause 1 of Article 6.

What are regulations on depositing of financial instruments in Vietnam?

Pursuant to Article 8 of the Circular 16/2022/TT-NHNN stipulating regulations on depositing of financial instruments in Vietnam as follows:

Depositing of financial instruments

1. Book-entry financial instruments directly deposited at SBV

a) If financial instruments to be deposited are included in the list of financial instruments under SBV's management:

The application for depositing of financial instruments made according to Appendix 2a/LK enclosed herewith and relevant documents (if any) shall be submitted to the SBV (the SBV’s Operations Center). Within 01 (one) working day from the receipt of the application for depositing of financial instruments, the SBV (the SBV’s Operations Center) shall transfer financial instruments to the account on financial instruments deposited directly at SBV;

b) If a successful bidder purchases financial instruments in trading sessions organized by the SBV, the SBV (the SBV’s Operations Center) shall transfer financial instruments purchased by that bidder to the account on financial instruments deposited directly at SBV.

2. Book-entry financial instruments deposited at VSDC

a) Members that wish to deposit financial instruments at SBV shall transfer financial instruments from their depository accounts opened at VSDC to SBV’s client account opened at VSDC. Upon receipt of VSDC’s notification of transfer of financial instruments, the SBV shall record the increase in financial instruments on the account on financial instruments deposited by clients;

b) If a successful bidder purchases financial instruments in a trading session in which the SBV acts as an issuing agent or sells financial instruments, the SBV (the SBV’s Operations Center) shall provide VSDC with bidding information to serve VSDC’s recording of deposited financial instruments.

3. Certificated financial instruments

The application for depositing of financial instruments made according to Appendix 2a/LK enclosed herewith and all certificated financial instruments shall be submitted to the SBV (the SBV’s Operations Center or the relevant SBV’s provincial branch that is authorized by the SBV’s Governor (hereinafter referred to as “SBV’s provincial branch”).

If certificated financial instruments are presented at the SBV (the SBV’s Operations Center), within 01 (one) working day from the completion of receipt, counting and examination of validity and legitimacy of such financial instruments, the SBV (the SBV’s Operations Center) shall carry out procedures for depositing received financial instruments on the account on financial instruments deposited directly at SBV.

If certificated financial instruments are presented at a SBV’s provincial branch, within 05 (five) working days from the completion of receipt, counting and examination of validity and legitimacy of such financial instruments, the SBV’s provincial branch shall transfer received financial instruments to SBV (the SBV’s Operations Center). Within 01 (one) working day from the completion of counting of received financial instruments, the SBV (the SBV’s Operations Center) shall carry out procedures for depositing received financial instruments on the account on financial instruments deposited directly at SBV.

As regulations above, above are regulations on depositing of book-entry financial instruments directly deposited at SBV, book-entry financial instruments deposited at VSDC and certificated financial instruments.

Best regards!