As required by the State Securities Commission, investor information needs to be updated to match the national population database/electronic identification and authentication system/chip-embedded citizen identity card.
Therefore, to ensure compliance with regulatory requirements and avoid transaction disruptions, securities companies have notified investors about the process of updating/adjusting non-chip ID cards to chip-based ID cards. This update can be done in person at the counter or online.
According to an announcement from Yuanta Securities Vietnam, investors need to update/adjust their non-chip ID cards to chip-based ID cards before August 20th. The deadline for updating/adjusting to chip-based ID cards at VnDirect Securities is August 31st. Everest Securities (EVS) has a later deadline of September 30th.
HSC Securities requires investors to standardize their securities trading account information before October 1st. HSC stated that after October 1st, online securities trading services will be temporarily suspended until customers update their information as required.
Similarly, according to Pinetree Securities, from October 1st, customers who have not updated their information to standardize their data will have their online trading services on their securities trading accounts discontinued. Customers will have to perform transactions in person at the trading counter and standardize their information there.
Securities companies believe that adjusting the aforementioned information will contribute to reducing the risk of renting or borrowing identity documents to open accounts, manipulate, and disrupt the market, helping to accelerate the implementation of the Prime Minister 's Project on developing data applications on population, identification and electronic authentication to serve the national digital transformation in the period 2022-2025, with a vision to 2030.
According to data from the Vietnam Securities Depository Center (VSD), the number of domestic investor accounts increased by nearly 330,000 in July 2024, three times the number from the previous month and the highest level in two years. This month recorded the third highest number of securities accounts in Vietnam's history, after May-June 2022.
As of the end of July, the total number of securities accounts held by domestic investors reached over 8.33 million, the highest ever. Of these, individual investors accounted for more than 8.11 million accounts, equivalent to approximately 8% of the population.
According to the newly approved Securities Market Development Strategy until 2030, Vietnam aims to reach 9 million investor securities trading accounts by 2025 and 11 million accounts by 2030. The government requires a focus on developing institutional and professional investors and attracting foreign investment.
Source: https://vietnamnet.vn/yeu-cau-cap-nhat-thong-tin-cccd-gan-chip-khi-giao-dich-chung-khoan-2311403.html
