If there a securities brokerage practice certificate, do people be able to advise on securities investment in Vietnam?

If there a securities brokerage practice certificate, do people be able to advise on securities investment in Vietnam?

Pursuant to Clause 2, Article 216 of Decree 155/2020/ND-CP, there are provisions on the principles of securities practice as follows:

2. Securities practice principles:

a) A securities brokerage certificate holder may provide securities brokerage and securities investment advisory services;

b) A financial analysis certificate holder may provide securities brokerage and securities investment advisory services, proprietary trading, securities underwriting;

e) A fund management certificate holder may provide securities brokerage and securities investment advisory services, proprietary trading, securities underwriting, securities investment portfolio management, securities investment fund management;

d) A securities practicing certificate is only valid when its holder is working at a securities company, securities investment fund management company, Vietnamese branch of a foreign securities company or foreign fund management company, or investment company and his/her employment has been notified by the company to SSC;

dd) A person who holds 01 of the 03 securities practicing certificates mentioned in Points a, b, c of this Clause and has certificates of training in derivatives and derivative market may operate within the derivative-related certificates at a securities company or securities investment fund management company;

e) A securities practicing certificate holder may only work at 01 securities-related department at a time.

Thus, according to the above regulations, if you have a securities brokerage practice certificate, you can perform securities investment consultancy in Vietnam.

What are the conditions for issuing securities brokerage practice certificates in Vietnam?

Pursuant to Clause 1, Article 213 of this Decree, securities brokerage practice certificates are issued to individuals who meet the following conditions:

1. The securities brokerage certificate will be issued to an individual who:

a) Satisfies the conditions specified in Clause 2 Article 97 of the Law on Securities; and

b) Has securities-related qualifications, including: certificate of basic training in securities and securities market, certificate of training in securities and securities market laws, certificate of training in securities analysis and investment, certificate of training in securities brokerage and securities investment counseling or equivalent certificates.

According to Clause 2, Article 97 of the Securities Law 2019 , 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.

According to this Article, in order to be granted a securities brokerage practice certificate in Vietnam, you need to meet all the above conditions.

Best Regards!