Securities Company Revocation of Establishment and Securities Trading Operation License: When Does It Occur?

Pursuant to Clause 1, Article 95 of the Securities Law 2019 (Effective from January 01, 2021), which stipulates that a securities company shall have its License for Establishing and Operating Securities Business revoked in the following cases:

- Not officially operating within 12 months from the date of licensing; unable to restore operations after the suspension period approved by the State Securities Commission; not conducting fund management operations for 2 consecutive years;

- Submitting a written request to withdraw the License for Establishing and Operating Securities Business;

- The securities company has all its securities business operations revoked in accordance with Clause 2, Article 94 of this Law;

- Failing to remedy the violations stipulated in Point a, Point c, Clause 1, Article 94 of this Law within 60 days from the date of suspension of operations;

- Dissolution, bankruptcy, merger, splitting, absorption.

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