SOME OF THINGS SECURITIES INVESTMENT CONSULTANTS CANNOT DO
On November 16, 2020, the Ministry of Finance issues the Circular No. 99/2020/TT-BTC on providing Guidance on operations of securities investment fund management companies.
Accordingly, in the securities investment consultancy, consultants must not:
Firstly, advise customers to invest in assets without providing fully information on the assets, the issuing institutions to the customers.
Secondly, broker transaction of purchase and sale between a customer and a third party; Broker transaction of lending, borrowing assets between a customer and a fund management company or between a customer and a third party.
Next, provide the information that has not been verified, rumors, false information to customers; provide false information, amplify the truth, provide misleading information, give the forecast or perform the acts to entice, induce or invite customers to trade in an asset that does not match with the investment objectives, investment experience, risk awareness capability, risk acceptance level and financial capacity of customers.
Besides, consultants must not give gifts, use the material benefits in any form to offer, induce a customer to trade an asset; invest on behalf of customers, receive customer’s money or assets for investment or transaction, unless the entrusting customers have signed investment entrustment contract with a fund management company, etc.
This Circular takes effect on January 01, 2021.