Vietnam: Types of securities depository accounts of clients at DMs

According to Article 17 of the Circular No. 119/2020/TT-BTC of the Ministry of Finance of Vietnam, securities depository accounts of clients at depository members (DMs) are as follows:

- Trading securities accounts;

- Securities accounts temporarily suspended from trading;

- Securities account used for secured transactions;

- Frozen and temporarily held securities accounts;

- Securities accounts awaiting payment;

- Securities waiting to be transferred;

- Securities accounts awaiting lending;

- Securities account as collateral for securities loans at the Vietnam Securities Depository and Clearing (VSDC);

- Clearing margin accounts in case a DM is also a CM of VSDC;

- Other accounts according to VSDC's regulations.

Note: A client's securities depository account opened at a DM includes the following contents:

- Securities depository account number;

- Name and contact address of the client being the account holder;

- Number and date of issuance of the people's identity card or citizen identification card for individual clients being Vietnamese; number, date of issue of certificate of business registration, license of establishment and operation or equivalent document if the client is a domestic organization; number and date of issuance of the securities trading code registration certificate if the client is a foreign investor;

- Quantity, type and code of deposited securities;

- The number of securities increased or decreased and the reasons for the increase or decrease;

- Other necessary information.

More details at the Circular No. 119/2020/TT-BTC of the Ministry of Finance of Vietnam, effective from February 15, 2021.

Ty Na

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE