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GBS: Explanation for temporary suspension of clearing activities
On 10/09/2012, Golden Bridge VietNam Securities JSC explains the temporary suspension of clearing stock exchange activities by VSD from 11/09/2012 to 20/09/2012 as follows:
According to the clearing
result on 31/08/2012, 04/09/2012, 05/09/2012, the Company owed the clearing an
amount of VND 3,518,680,826. The reason was the investors transferred money
late so the company were not able to deposit money to account of Vietnam
Security Depository. However, on 07/09/2012, Vietnam Security Depository
announced the Resolution No. 157/QD-VSD about the temporary suspension of
clearing activities of the company from 07/09/2012 to 30/09/2012, which made
the investors changed the payment methods to the company and because the
transactions were canceled so the investors could not sell the stocks to have
the money for payment.
From the situation above,
the company reported to State Securities Commission and Vietnam Security
Depository and there was the Resolution No. 158/QD-VSD on 10/09/2012 about temporary
suspension of clearing activities from 11/09/2012 to 20/09/2012 in order to: to
examine the stock exchange process, risk management and follow strictly the
regulations of clearing activities.
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