Vietnam: What are the regulations on cancellation of membership of trading members?

According to Article 20 of Circular 58/2021/TT-BTC on the cancellation of membership of trading members in Vietnam:

1. The Vietnam Exchange shall cancel the membership of trading members in the following cases:

a) A trading member submits an application for voluntary cancellation of membership which is approved by Vietnam Exchange;

b) A trading member is subject to compulsory cancellation of membership.

2. A trading member shall be subject to compulsory cancellation of membership as prescribed in Point b Clause 1 of this Article in the following cases:

a) The trading member fails to rectify the causes of suspension by the end of the maximum suspension period specified in Clause 2 Article 19 hereof;

b) The trading member fails to meet membership requirements for trading member laid down in Clause 1 Article 22 of Decree No. 158/2020/ND-CP ;

c) The securities trading license of the trading member is revoked;

d) The trading member undergoes merger, dissolution or bankruptcy;

dd) Other cases specified in Vietnam Exchange’s regulations;

e) Other cases reported by Vietnam Exchange and approved by SSC.

3. Required documents and procedures for cancellation of membership of trading members shall comply with Vietnam Exchange’s regulations.

Respectfully!