How many employees with securities practice certificate must securities companies have at least in Vietnam?

How many employees with securities practice certificate must securities companies have at least in Vietnam?

Pursuant to Clause 5, Article 74 of the Securities Law 2019, there are provisions on personnel conditions for being granted a license to establish and operate securities business of a securities company as follows:

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, your company needs to have at least 3 employees with securities practice certificates to be able to be granted a License to establish and operate securities business in Vietnam.

Conditions for issuing securities practice certificates in Vietnam

Pursuant to Clause 2, Article 97 of this Law, securities practice certificates are issued to individuals who meet the following conditions:

2. A securities professional certification 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 professional certification. Foreigners who have securities qualifications and foreign certified securities professionals need to pass the test securities and securities market of Vietnam.

Best Regards!