How many employees having securities trading certifications to be granted a securities trading license in Vietnam?

How many employees having securities trading certifications to be granted a securities trading license in Vietnam?

Clause 5, Article 74 of the Law on Securities 2019 has the following provisions:

5. Personnel requirements:

There is a General Director (Director), at least 03 employees having suitable securities trading certifications for the licensed operations, and at least 01 employee in charge of compliance management. The General Director (Director) shall:

a) Not be facing criminal prosecution, serving an imprisonment sentence or being banned from securities trading as prescribed by law;

b) Have at least 02 years’ experience of working in specialized departments of finance, securities, banking, insurance organizations or in finance, accounting, investment departments of other organizations;

c) Have the practising certificate for financial analysis or asset management;

g) Not incur any administrative penalties for securities-related offences in the last 06 months prior to the application date.

The Deputy General Directors (Deputy Directors) in charge of specific operations shall satisfy the requirements specified in Points a, b, d of this Clause and have practising certificates suitable for their operation.

Thus, based on the above regulations in Vietnam, a securities company needs to have at least 03 employees having suitable securities trading certifications for the licensed operations.

Can a securities company provide securities investment consultancy in Vietnam?

Article 72 of the Law on Securities 2019 provides that operations of securities companies are as follows:

1. A securities company shall be licensed to perform one, some or all of the following operations:

a) Securities brokerage;

b) Proprietary trading;

c) Securities underwriting;

d) Securities investment consultancy.

2. A securities company shall only be licensed for proprietary trading when it is licensed for securities brokerage.

3. A securities company shall only be licensed for securities underwriting when it is licensed for proprietary trading.

Thus, securities companies are allowed to provide securities investment consultancy in Vietnam.

Best Regards!