Is it possible for a person whose securities professional certification in Vietnam is revoked to apply for re-issuance of certification?

1. Is it possible for a person whose securities professional certification in Vietnam is revoked to apply for re-issuance of certification?

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

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

Securities professional certification

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

a) No longer meeting the conditions for being granted a securities professional certification 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 professional certification changes (identification card number or citizen identification number or passport number, nationality, full name, date of birth).

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

2. What documents are included in the application for re-issuance of the securities professional certifications in Vietnam?​

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

- For the case where the securities professional certification has been revoked as prescribed at Points a, c Clause 3 Article 97 of the Securities Law 2019, the dossier for reissuance of the securities professional certification includes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

4. The dossier for applying for a securities professional certification includes:

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

b) Personal information form of the applicant for the securities professional certification 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;

dd) Legal securities professional certification 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 professional certification issued by the organizations where the applicant has worked or is currently working.

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

+ The application form for reissuance of the securities professional certification 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 professional certification 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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