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Security companies will "cut off" the margin trading for foreign investors from 1 July 2016

Circular No. 203/2015/TT-BTC will come into effect on 1 July 2016 to replace Circular No. 74/2011/TT-BTC guiding securities transaction. Accordingly, from 1 July 2016, foreign investors are not eligible for conducting margin trading.

Reacting to this provision, several securities companies announce that they will stop opening new margin trading accounts for foreign investors as from 1 July 2016 and the buying function of ongoing margin trading accounts of foreign investors shall be locked. However, the selling function will remain available for the investors to release their stocks to recover capital and to fulfill their payment obligation to the securities company. In additional, securities companies will also stop disbursing for transaction made through margin trading accounts of foreign investors.