Deadline extended for updating national IDs in securities trading

October 07, 2024 - 14:42

Earlier, under the SSC directive from July, securities firms were required to halt online transactions for investors without updated national identification numbers starting October 1.

A trader talks to an investor on a trading floor of a securities firm. — Photo bnews.vn

HÀ NỘI — The State Securities Commission of Việt Nam (SSC) has recently postponed the deadline for updating national identification numbers for securities investors from October 1 to January 1, 2025.

In a document to securities firms, fund managers, custodian banks and fund certificate distributors, the SSC urged securities firms to promptly reach out to retail investors to verify and update their account information by January 1, 2025.

From January 1, 2025, service providers will resume normal operations for investors who have updated and verified their account information.

Those investors who have not yet collaborated to finalise updates are advised to complete the information standardisation before engaging in transactions.

Earlier, under the SSC directive from July, securities firms were required to halt online transactions for investors without updated national identification numbers starting October 1.

The extension grants investors an additional three months to comply with the account update and verification requirements mandated by the securities market regulatory authority. — VNS

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