What are requirements for grant of securities professional certification in Vietnam?

What are requirements for grant of securities professional certification in Vietnam?

Pursuant to Clause 2 Article 97 of the Law on Securities in 2019 stipulating securities professional certifications as follows:

Securities professional certifications

1. Securities professional certifications include:

a) Securities broker certificate;

b) Financial analyst certificate;

c) Fund management certificate.

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.

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Pursuant to Clause 1 Article 213 of the Decree 155/2020/NĐ-CP stipulating documentation and procedures for issuance of the securities professional certification as follows:

Documentation and procedures for issuance of the securities professional certification

1. The securities professional certification 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.

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Therefore, to be eligible for a securities professional certification, the following conditions must be met:

- Have full civil capacity; not subject to prosecution for criminal liability or being prohibited from practicing securities under the law;

- Have a university degree or higher;

- Have professional qualifications in securities;

- Meet the requirements of the securities professional certification examination for the type of securities professional certification applied for.

Foreigners with securities professional qualifications or those who have legally practiced securities abroad must meet the requirements of the securities law and securities market examination in Vietnam.

- Have securities professional qualifications, including:

+ Certification of basic issues on securities and securities markets.

+ Certification of securities law and securities markets.

+ Certification of securities analysis and investment.

+ Certification of securities brokerage and securities investment consulting or equivalent certification.

What are requirements for grant of securities professional certification in Vietnam? - Source: Internet

What are documentation for issuance of the securities professional certification in Vietnam?

Pursuant to Clause 4 Article 213 of the Decree 155/2020/NĐ-CP, an application for the securities practicing certificate shall contain:

- The application form No. 85 in the Decree 155/2020/NĐ-CP;

- The applicant’s personal information sheet according to Form No. 67 in the Appendix which must be prepared within the last 06 months before the application is received by SSC;

- The judicial record issued by a competent authority within the last 06 months before the application is received by SSC;

- The applicant’s bachelor’s degree, master’s degree or doctoral degree;

- A lawful securities practicing certificate issued overseas or equivalent documents proving that the applicant is lawfully practicing securities in a foreign country; qualifications in securities or equivalent certificates;

- 02 4x6 cm photos that are taken within the last 06 months before the application is received by SSC;

- In case of applying for the fund management certificate, the application shall include a document certifying the seniority and position of the applicant issued by the applicant’s current workplace or former workplaces.

What are cases of revocation of securities professional certification of individuals in Vietnam?

Pursuant to Clause 3 Article 97 of the Law on Securities in 2019 stipulating cases of revocation of securities professional certification of individuals in Vietnam as follows:

A securities professional certification will be revoked if its holder:

- no longer satisfies the requirements specified in Clause 2 of this Article;

- commits any of the offences specified in Article 12 or Clause 2 Article 98 of this Law; or

- fails to work as a certified securities professional for 03 consecutive years.

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