CIRCULAR

  AMENDMENTS TO CIRCULAR NO. 134/2017/TT-BTC DATED DECEMBER 19, 2017 OF MINISTER OF FINANCE PROVIDING GUIDELINES FOR E-TRANSACTIONS ON SECURITIES MARKET

Pursuant to the Law on Securities dated June 29, 2006; the Law on amendments to the Law on Securities dated November 24, 2010;

Pursuant to the Law on Electronic Transactions dated November 29, 2005;

Pursuant to the Law on Information Technology dated June 29, 2006;

Pursuant to the Law on Cyberinformation Security dated November 19, 2015;

Pursuant to the Government's Decree No. 165/2018/ND-CP dated December 24, 2018 on e-transactions in financial operations;

Pursuant to the Government’s Decree No. 87/2017/ND-CP dated July 26, 2017 defining functions, tasks, powers and organizational structure of the Ministry of Finance;

At the request of the Chairman of the State Securities Commission of Vietnam;

The Minister of Finance promulgate a Circular providing amendments to Circular No. 134/2017/TT-BTC dated December 19, 2017 of the Minister of Finance providing guidelines for e-transactions on securities market.

Article 1. Amendments to Circular No. 134/2017/TT-BTC dated December 19, 2017 of Minister of Finance providing guidelines for e-transactions on securities market

1. Clause 7 Article 3 is amended and Clause 14 is added to Article 3 as follows:

“7. “identity of an order placement device” means the information associated to each device to identify that device when it is used for conducting online securities transactions.

14. “time of transaction” means the time that the investor logs in to the online securities trading system and executes online securities transaction orders.”

2. Point dd and Point e Clause 1 Article 6 are amended as follows:

“dd) The online securities trading system must be integrated with solutions whereby investors can use digital certificates or digital signatures of public certification authorities when executing online securities transaction orders. It may be also integrated with other solutions prescribed in Point a and Point c Clause 1 Article 8 of this Circular. Application of digital certificates and digital signatures to investors’ securities transactions shall comply with specific guidelines given by the State Securities Commission of Vietnam;

e) When rendering transaction services via telephone, the telephone exchange or another device with call recording, management and search functions must be equipped.  Any calls for placing orders of investors must be recorded and stored in a manner that ensures information and data security;”

3. Clause 2 Article 8 is amended and Clause 4 is added to Article 8 as follows:

 “2. When placing an order via telephone, the investor shall use the order placement telephone and provide information for authentication as prescribed in Point a Clause 1 of this Article. The transaction shall only be executed if the information provided by the investor matches his/her information registered and stored on the online securities trading system.

4. Investors are required to carry out authentication as prescribed in this Article whenever they conduct online securities transactions.”

4. Clause 1 and Clause 3 Article 9 are amended as follows:

“1. An electronic order shall, inter alia, include the following information:  Number and type of order, number of the account whose holder places the order, transaction method, ticker symbol or name of security, quantity and transaction price, transaction date and time, identity of order placement device.

3. An electronic order must bear a digital signature or logically associated or combined with the investor’s identity as prescribed in Article 8 hereof and comply with legislative documents on e-transactions.”

Article 2. Implementation

1. This Circular comes into force from October 01, 2020.

2. The State Securities Commission of Vietnam, Stock Exchange, Vietnam Securities Depository and organizations and individuals conducting e-transactions on securities market are responsible for the implementation of this Circular./.