Can a Person Whose Securities Practitioner License Has Been Revoked Reapply for It?

1. Can a person whose securities practicing certificate is revoked apply for reissuance?

According to Clause 1, Article 214 of Decree 155/2020/ND-CP, the case of reissuing the securities practicing certificate in Vietnam is as follows:

- The securities practicing certificate is revoked as prescribed at Points a, c Clause 3 Article 97 of the Securities Law 2019 or is damaged or lost;

Securities Practicing Certificate

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3. Individuals who are granted the securities practicing certificate have their certificate revoked in the following cases:

a) No longer meeting the conditions for being granted a securities practicing certificate as prescribed in Clause 2 of this Article;

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c) Not practicing securities for 03 consecutive years.

- Information verifying the identity of the practitioner recorded in the securities practicing certificate changes (identification card number or citizen identification number or passport number, nationality, full name, date of birth).

Therefore, individuals whose securities practicing certificate is revoked due to not practicing securities for 03 consecutive years, if the certificate is damaged, lost, etc., they can still have their securities practicing certificate reissued when they follow the correct procedures as regulated by the Securities Law 2019 and related documents.

2. What does the dossier for reissuance of the securities practicing certificate include?

According to Clause 2, Article 214 of Decree 155/2020/ND-CP, the dossier for reissuance of the securities practicing certificate includes:

- For the case where the securities practicing certificate has been revoked as prescribed at Points a, c Clause 3 Article 97 of the Securities Law 2019, the dossier for reissuance of the securities practicing certificate includes the documents prescribed in Clause 4 Article 213 of Decree 155/2020/ND-CP;

4. The dossier for applying for a securities practicing certificate includes:

a) Application form according to Form No. 85 Appendix issued with this Decree;

b) Personal information form of the applicant for the securities practicing certificate according to Form No. 67 Appendix issued with this Decree within 06 months up to the date the State Securities Commission receives the dossier;

c) Judicial record issued by the competent authority within 06 months up to the date the State Securities Commission receives the dossier;

d) Bachelor's degree or master's degree, doctorate;

đ) Legal securities practicing certificate abroad or equivalent documents proving that the individual is legally permitted to practice securities abroad; professional certificates on securities, or equivalent certificates;

e) Two (02) 4cm x 6cm photos taken within 06 months up to the date the State Securities Commission receives the dossier;

g) For the case of applying for a fund management practicing certificate, the dossier must include the documents confirming the number of years of working experience, the job position of the applicant for the securities practicing certificate issued by the organizations where the applicant has worked or is currently working.

- For the case where the securities practicing certificate is lost, damaged or there are changes in information verifying the identity in the securities practicing certificate, the dossier for reissuance includes:

+ The application form for reissuance of the securities practicing certificate according to Form No. 85 Appendix issued with Decree 155/2020/ND-CP;

+ Valid identification card or citizen identification card or valid passport;

+ Two (02) 4cm x 6cm photos taken within 06 months up to the date the State Securities Commission receives the dossier;

+ Securities practicing certificate issued by the State Securities Commission, except in the case of reissuance due to the certificate being lost.

3. What actions are securities practitioners in Vietnam prohibited from performing?

Securities practitioners according to Vietnamese law are prohibited from performing the following actions:

- Simultaneously working for 02 or more securities companies, fund management companies, branches of foreign securities companies and fund management companies in Vietnam, investment companies;

- Opening, managing trading accounts at a securities company where they do not work, except where the securities company they work for does not engage in brokerage services;

- Performing actions beyond the scope of authorization of the securities company, fund management company, branch of foreign securities company and fund management company in Vietnam, investment company where they work.

In addition, securities practitioners must participate in training courses on securities laws and the securities market, trading systems, new securities types organized by the State Securities Commission, Vietnam Stock Exchange and its subsidiaries, Vietnam Securities Depository and Clearing Corporation.

(Based on Article 98 of the Securities Law 2019)

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