|
THE
MINISTRY OF FINANCE
--------
|
SOCIALIST
REPUBLIC OF VIETNAM
Independence - Freedom - Happiness
----------------
|
|
No.:
74/2011/TT-BTC
|
Hanoi,
June 01, 2011
|
CIRCULAR
GUIDING
ON SECURITIES TRANSACTION
Pursuant to the Law on
Securities No.70/2006/QH11 passed by the National Assembly dated 29/06/2006;
Pursuant to the Decree No.118/2008/ND-CP dated 27/11/2008 of the Government
stipulating the functions, tasks, powers and organizational structure of the
Ministry of Finance;
The Minister of Finance guides on transaction in the stock market as follows:
Chapter I
GENERAL PROVISIONS
Article 1.
Scope of governing
This Circular
guides the security transaction activities of the listed company, transaction
registration and public security investment capital at the Stock Exchange (SE).
Article 2.
Interpretation of terms
...
...
...
Bạn phải
đăng nhập hoặc
đăng ký Thành Viên
TVPL Pro để sử dụng được đầy đủ các tiện ích gia tăng liên quan đến nội dung TCVN.
Mọi chi tiết xin liên hệ:
ĐT: (028) 3930 3279 DĐ: 0906 22 99 66
1.
Transaction member means the security company is approved to be transaction
member by SE.
2.
Transaction system means the computer system used for the security
transaction activities at SE.
3. Order
routing system means the system sending transaction orders of investors
from transaction member to SE.
4. Price
fluctuation means price fluctuations limit of securities stipulating in the
trading day which is calculated by percentage (%) compared with the reference
price.
5.
Reference price means price rate for use as a basis for calculating
price fluctuations of securities in the trading day.
6.
Matching method means the transaction method implemented by the trading
system based on matching the buy orders and sell orders of securities. Matching
methods include periodical and continuous matching.
7. Agreement method means
transaction method in which the transaction members agree with each other by
themselves for transaction conditions and entered information into the system
to record transaction results by transaction members.
8.
Transaction to buy securities deposit (margin) means the customer’s
transaction to buy securities using loans from Security Company and using other
securities in their account and securities bought by loans for mortgage.
9. Internal
information means the information relating to public companies or public
funds that have not been announced yet, which if it is announced, it could
seriously affect the stock prices of such public companies or public funds.
...
...
...
Bạn phải
đăng nhập hoặc
đăng ký Thành Viên
TVPL Pro để sử dụng được đầy đủ các tiện ích gia tăng liên quan đến nội dung TCVN.
Mọi chi tiết xin liên hệ:
ĐT: (028) 3930 3279 DĐ: 0906 22 99 66
11.
Transactions to manipulate the stock market mean one or more individuals or
organizations performing or in collusion with each other to perform either
directly or indirectly the placing orders, transactions or publish, distribute
information to create supply, demand and liquidity, artificial price changes
for one or more types of securities.
Chapter II
SPECIFIC PROVISIONS
Article 3.
Security transaction organizations
1. SE
organizes security transactions according to matching method and agreement
method. The matching method on the transaction system is implemented in
accordance with the principle of priority on price and time.
2. The SE organizes
listing security transactions, transaction registration at SE through
transaction system of SE, except for the following cases:
a) The cases
provided in point b clause 1 Article 4 of the Circular 43/2010/TT-BTC dated
25/3/2010 of the Minister of Finance amending and supplementing the Regulation
on securities registration, deposit, clearing and settlement promulgated
together with the Minister of Finance's Decision No.87/2007/QD-BTC dated
October 22,2007.
b) Auction
sale of state capital in the listed organizations, public companies;
c) The other
assignments through the Securities Depository Center (DC) after being accepted
by the State Securities Commission.
...
...
...
Bạn phải
đăng nhập hoặc
đăng ký Thành Viên
TVPL Pro để sử dụng được đầy đủ các tiện ích gia tăng liên quan đến nội dung TCVN.
Mọi chi tiết xin liên hệ:
ĐT: (028) 3930 3279 DĐ: 0906 22 99 66
4. Hanoi SE listed by securities
transaction organizations and securities of public companies not listed on the
SE, except for cases prescribed in point a, b and c, Clause 2 of this Article.
5. The Security
Depository Center grants securities code to the stocks to be transacted on in
the SE.
Article 4.
Suspension of securities transactions
1. SE
suspends securities transaction activities all over the system in cases:
a)
Transaction system or orders routing system of SE gets troubles;
b) When force
majeure events take place affecting transaction activities of the market
like natural disaster, fire;
c) The State
Securities Commission requires terminating the transactions to stabilize the
market;
d) The cases
that SE considers the necessary to protect benefits of investors after being
accepted by the State Securities Commission.
2.
Transactions suspension of each type of specific security is implemented
according to the transaction Regulation of SE.
...
...
...
Bạn phải
đăng nhập hoặc
đăng ký Thành Viên
TVPL Pro để sử dụng được đầy đủ các tiện ích gia tăng liên quan đến nội dung TCVN.
Mọi chi tiết xin liên hệ:
ĐT: (028) 3930 3279 DĐ: 0906 22 99 66
Article 5.
Price fluctuation
1. SE
stipulates the price fluctuation after being accepted by the State Securities
Commission;
2. In the
necessary cases to ensure the market stability, the State Securities Commission
decides to adjust the price fluctuation.
Article 6.
Error correction after the transactions, transaction establishment and
transaction cancellation
1. The
Security Depository Center is responsible for promulgating the Process of
guiding the error correction after the transactions for the stocks which are
listed and registering transactions on SE after being accepted by the State
Securities Commission.
2. SE is
responsible for promulgating the provisions on establishing transactions and
canceling securities transactions after being accepted by the State Securities
Commission.
Article 7.
Securities transactions of investors
Investors
must open securities transactions accounts in the security company to
perform securities transactions on SE and takes responsibility to supply in
full, exactly the information when opening the transaction accounts.
Investor is
only permitted to open one transaction account in each securities company,
except for the following cases:
...
...
...
Bạn phải
đăng nhập hoặc
đăng ký Thành Viên
TVPL Pro để sử dụng được đầy đủ các tiện ích gia tăng liên quan đến nội dung TCVN.
Mọi chi tiết xin liên hệ:
ĐT: (028) 3930 3279 DĐ: 0906 22 99 66
b) Fund
management companies must open a separate transaction account for itself and
each securities investment fund managed by them at each security company where
they open its account and must state clearly this issue in the account opening
contract. Where the implementation of portfolio management, fund Management
Company must open two (02) transactions accounts in the name of the fund management
company in the securities companies on behalf of the trust investors, including
one (01) account for the domestic trust investor and one for foreign trust
investor.
c) Foreign
investors who are the foreign securities companies established under foreign
law are opened separate securities transactions accounts in the securities
company to manage securities owned by its own (business by itself) and accounts
for customers (brokers) of foreign securities companies.
d) Insurance
companies with 100% of foreign capital operating in Vietnam when participating
securities transactions must be open two (02) transactions accounts in the
securities company: one (01) investment account from equity and under the
adjustment on foreign owned ratio, one (01) investment account from the
insurance fee collection and not subject to the adjustment on owned ratio of
foreign investors.
3. The
opening of the securities transaction accounts of persons who practice
securities is done as prescribed in Clause 2 Article 81 of Securities Law.
4. Where
investors opening securities transaction accounts in different securities
companies, in the records of opening accounts in the new securities companies
must record clearly the number of accounts opened and account codes in the
former securities companies.
5. Foreign
investors are only permitted to open transaction accounts after they registered
and granted securities transaction code by the Security Depository Center.
6. The State
Securities Commission guides principles to grant securities transaction account
codes for investors. The securities companies where the investors open its
accounts are responsible for keeping as archives information of account owners,
securities transaction information and other relevant documents for at least 10
years since the date on which the transactions arise.
7. Investors
must ensure deposit rate in cash or securities in the transaction. The State
Securities Commission guides deposit rate in cash or securities after being
approved by the Ministry of Finance.
8. The
transfer of listed securities, transaction registration must be conducted via
SE. The transfer cases mentioned in clause 2 Article 3 of this Circular is
implemented through the Security Depository Center and must disclose information
on SE.
...
...
...
Bạn phải
đăng nhập hoặc
đăng ký Thành Viên
TVPL Pro để sử dụng được đầy đủ các tiện ích gia tăng liên quan đến nội dung TCVN.
Mọi chi tiết xin liên hệ:
ĐT: (028) 3930 3279 DĐ: 0906 22 99 66
Article 8.
Securities transactions in the transaction days:
1. Investors
are entitled to make the opposite transaction (buy, sell) of the same
securities in the transaction day, when meeting the following conditions:
a) Using an
account opened in a securities company to make both buying and selling orders;
b) Only being
bought (or sold) a type of security if the selling order (or buying order) of
the same type of security which was previously made and the transaction order
must meet the demand on deposit rate as prescribed in clause 7, Article 7 of
this Circular.
c) Securities
Companies, depository bank take responsibility to check the validity of buying
orders/selling orders of investors.
2. The
investors are not permitted:
a) Performing
transactions not leading to the change of ownership of securities;
b) At the
same time placing selling and buying orders of the same type of security in
each matching on the same account or different accounts that are under the name
of investors.
Article 9.
Authorization transaction accounts
...
...
...
Bạn phải
đăng nhập hoặc
đăng ký Thành Viên
TVPL Pro để sử dụng được đầy đủ các tiện ích gia tăng liên quan đến nội dung TCVN.
Mọi chi tiết xin liên hệ:
ĐT: (028) 3930 3279 DĐ: 0906 22 99 66
a)
Authorizing to transact in writing to the Securities Company or securities
depository bank to perform the transactions. When being authorized to transact,
the securities company/depository bank who is on behalf of investors to perform
the transactions must comply with the regulations on transaction and payment of
securities, obligations to disclose information and takes responsibility before
the investors for the authorized contents;
b)
Authorizing to transact in writing to other Individuals to perform the
transactions must ensure:
- With
certification of local government or notarize public under the provisions of
law;
- Authority
contract must be stated clearly the scope of authority;
- Authorized
person is not entitled to perform the transactions with himself/herself or with
third person who authorizes to such authorized person.
2. Staffs of
securities companies are not entitled to receive the authority from investors.
3. Investor
opening may securities transaction accounts must report on the obligations of
majority shareholders on the total securities in the accounts and disclose
information in accordance with the law regulations.
Article
10. Transaction of fund shares
1. Listed
organizations, organizations of registering transactions repurchase, resale
fund shares on the SE shall comply with the law regulations. The SE promulgates
Regulations of specific guidance on fund share transactions after being
approved by the SSC.
...
...
...
Bạn phải
đăng nhập hoặc
đăng ký Thành Viên
TVPL Pro để sử dụng được đầy đủ các tiện ích gia tăng liên quan đến nội dung TCVN.
Mọi chi tiết xin liên hệ:
ĐT: (028) 3930 3279 DĐ: 0906 22 99 66
3. Listed
organizations, organizations of registering transactions are entitled to
repurchase odd-lot shares of investors as fund shares. Listed organizations,
organizations of registering transactions repurchasing the odd-lot shares must
ensure capital source to repurchase fund shares in accordance with the law
regulations and not restricted the term to sell odd-lot shares purchased as
fund shares.
Article
11. Transaction of securities deposit
1. Securities
companies are entitled to perform deposit transactions after they reported to
the SSC.
2. Investors
wishing to conduct deposit transactions must open deposit transaction accounts
in the securities company where the investors opening the securities
transaction accounts. In every securities company where investors open their
transaction accounts, investors are only allowed to open one (01) deposit
transaction account. The securities companies must manage separately the
deposit transaction accounts of investors with other transaction accounts.
3. Securities
which are permitted for deposit transitions as shares, investment fund
certificates being listed on the SE meeting the requirements of securities are
allowed to conduct deposit transitions under the provisions of the SSC. The
securities companies are obliged to publicly announce the securities portfolio
that the companies conducted deposit transactions.
4. The
securities companies are obliged to report periodically or at request on
deposit transaction activities with the SSC, the SE and the Security Depository
Center (SDE).
5. In case of
necessity, to ensure safety to the operations of the stock market, the SSC may
require the securities companies to suspend the deposit transactions.
6. The SSC
specified deposit transaction professional skill for securities companies.
Article
12. Cases of securities being managed
...
...
...
Bạn phải
đăng nhập hoặc
đăng ký Thành Viên
TVPL Pro để sử dụng được đầy đủ các tiện ích gia tăng liên quan đến nội dung TCVN.
Mọi chi tiết xin liên hệ:
ĐT: (028) 3930 3279 DĐ: 0906 22 99 66
Article
13. Prohibited transactions
1. Prohibited
transactions include: internal transactions, transactions manipulating market
and the other prohibited transactions under the provisions of law;
2. The
violations on securities transactions are handled under the law regulations.
Article
14. Regime of report and supervision
1. The SE,
SDC implement the regime of report on securities transactions states with the
SSC.
2. The SE,
SDC are subject to the supervision of the SSC on the securities transactions.
Chapter
III
IMPLEMENTATION ORGANIZATION
Article
15. Implementation provisions
...
...
...
Bạn phải
đăng nhập hoặc
đăng ký Thành Viên
TVPL Pro để sử dụng được đầy đủ các tiện ích gia tăng liên quan đến nội dung TCVN.
Mọi chi tiết xin liên hệ:
ĐT: (028) 3930 3279 DĐ: 0906 22 99 66
2. This
Circular takes effect on 01/08/2011.
3. The
amendment, supplementation of this Circular is decided by the Minister of
Finance.
FOR
THE MINISTER
DEPUTY MINISTER
Tran Xuan Ha