What are the conditions for obtaining securities practicing certificates in Vietnam? What are the responsibilities of securities practitioners in Vietnam?
What are the conditions for obtaining securities practicing certificates in Vietnam?
Pursuant to the provisions of Article 97 of the 2019 Law on Securities in Vietnam:
Securities practicing certificates
1. Securities practicing certificates include:
a) Securities broker certificate;
b) Financial analyst certificate;
c) Fund management certificate.
2. A securities practicing certificate will be granted to an individual who:
a) has full legal capacity; is not facing criminal prosecution and is not being banned from securities practice as prescribed by law;
b) has a bachelor’s degree or above;
c) has professional training in securities; and:
d) passes the test for the securities practicing certificate. Foreigners who have securities qualifications and foreign securities practitioners need to pass the test securities and securities market of Vietnam.
Thus, individuals need to meet the above conditions for obtaining securities practicing certificates.
What are the responsibilities of securities practitioners in Vietnam?
Pursuant to the provisions of Article 98 of the 2019 Law on Securities in Vietnam on the responsibilities of securities practitioners as follows:
- Holders of securities practicing certificates shall operate as representatives of securities companies, fund management companies, branches of foreign securities companies and foreign fund management companies, or investment companies.
- A securities practitioner must not:
+ Simultaneously work for 02 or more securities companies, fund management companies, branches foreign securities companies or foreign fund management companies in Vietnam, or investment companies;
+ Open, manage securities trading accounts at the securities company for which he/she works, unless it does not provide securities brokerage services;
+ Act beyond the authorization of the company for which he/she works.
- Securities practitioners shall attend training courses in securities and securities market, systems for trading of new securities organized by State Securities Commission, Vietnam Stock Exchange and its subsidiaries, and Vietnam Securities Depository and Clearing Corporation.
- Securities companies, fund management companies, branches foreign securities companies and foreign fund management companies in Vietnam, and investment companies are responsible for operation of their securities practitioners.
What are the conditions for obtaining securities practicing certificates in Vietnam? What are the responsibilities of securities practitioners in Vietnam? (Image from the Internet)
What is the application for issuance of securities practicing certificates in Vietnam?
Pursuant to the provisions of Clause 4, Article 213 of Decree No. 155/2020/ND-CP on the application for a securities practicing certificate as follows:
Documentation and procedures for issuance of the securities practicing certificate
…
4. An application for the securities practicing certificate shall contain:
a) The application form No. 85 in the Appendix hereof;
b) The applicant’s personal information sheet according to Form No. 67 in the Appendix which must be prepared within the last 06 months before the application is received by State Securities Commission;
c) The judicial record issued by a competent authority within the last 06 months before the application is received by State Securities Commission;
d) The applicant’s bachelor’s degree, master’s degree or doctoral degree;
dd) A lawful securities practicing certificate issued overseas or equivalent documents proving that the applicant is lawfully practicing securities in a foreign country; qualifications in securities or equivalent certificates;
e) 02 4x6 cm photos that are taken within the last 06 months before the application is received by State Securities Commission;
g) In case of applying for the fund management certificate, the application shall include a document certifying the seniority and position of the applicant issued by the applicant’s current workplace or former workplaces.
5. The application for the securities practicing certificate will not be returned, even if it is rejected.
Thus, in order to be granted a securities practicing certificate, it is necessary to prepare the documents according to the above provisions.
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