Regulatory Alerts2025-04-26 | 18/2025/TT-BTCAdded · Updated
Circular 18/2025/TT-BTC amending provisions of Circulars 119/2020/TT-BTC and 96/2020/TT-BTC
The Ministry of Finance amends Circular 119/2020/TT-BTC to update definitions of market areas and investor identification, introduce electronic document legal validity, and clarify custody and transfer rules. It establishes Chapter IVa to govern clearing and settlement operations prior to the central counterparty mechanism, detailing multilateral netting, payment obligations, and fund blocking procedures. The circular specifies error correction protocols for transaction failures and defines the responsibilities of clearing members, direct account-opening organizations, and banks in ensuring settlement integrity.
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