Allowing another person to borrow the account to trade securities is strictly prohibited in Vietnam from January 01, 2021

According to Article 12 of the Law on Securities 2019 of Vietnam, securities-related offenses include:

1. Direct or indirect commission of frauds, forgery of documents, provision or disclosure of false information to conceal true information or omit necessary information in a manner that causes misunderstanding, adversely affects the offering, listing, trading, investment of securities and provision of securities-related services.

2. Use of internal information to buy or sell securities to oneself or another person; revelation or provision of internal information; advising another person to buy or sell securities based on internal information.

3. Use of one or several accounts of oneself or another person, trading securities in a manner that creates artificial demand or supply; collaborating with another person in trading securities to manipulate securities prices; use of other methods, with or without false information, to manipulate securities prices.

4. Engaging in securities trade or provision of securities-related services without a license, certification or approval from the State Securities Commission (SSC).

5. Use of a client’s account or asset without the client’s authorization or against the law; abuse of trust to appropriate a client’s assets.

6. Allowing another person to borrow the account to trade securities, hold securities in the name of another person for the purpose of manipulating securities prices.

7. Organizing the securities market against regulations of this Law.

View more details at the Law on Securities 2019 of Vietnam, effective from January 01, 2021. 

Ty Na

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