From August 30, a securities company will set the first deposit with the ratio of equal or exceeding 60 percent and the maintaining deposit with the ratio of equal or exceeding 40 percent.
This is prescribed in State Securities Commission Decision 637/QD-UBCK of August 30, providing regulations on securities depository transactions.
Under the Decision, a securities company conducting securities deposit transactions must not have accumulated losses equivalent to over 50 percent of its charter capital, debt over six times the equity; liquidity ratio specified in Circular No. 226/2010/TT-BTC over 150 percent during latest three months.
The Decision also specifies that a customer wishing to conduct securities deposit transactions must sign an opening account contract with the securities company in which he/she have a common securities transaction account. In order to open an account, the customer must place at least VND 10 million on deposit.
Also under this Decision, any securities company violates the above regulations thrice or more will be required to suspend deposit transactions for 12 months.-