What are the conditions for an issuing organization to offer financial products in Vietnam?

Under Clause 1, Article 202 of Decree 155/2020/ND-CP stipulating the conditions for an issuing organization to offer financial products in Vietnam:

1. Conditions for an issuing organization to offer financial products in Vietnam:

a) It is a securities company that is licensed for proprietary trading;

b) Its charter capital and equity is at least 1.000 billion VND according to the latest audited financial statement;

c) It is not being suspended, terminated or undergoing consolidation, merger, dissolution or bankruptcy; it does not incur any administrative penalties for violations against regulations on securities and the Prime Minister in the last 06 months before the application is received by SSC;

d) The latest annual financial statement which is audited by an accredited audit organization with unqualified opinions or qualified opinions that do not affect the eligibility for offering; the issuer has explanatory documents and confirmation from the audit organization about the impacts of the qualified opinions;

dd) The decision of the GMS, Board of Members or the company’s owner to approve the offering of financial products;

e) Obligations to pay for the financial products are fulfilled.

Respectfully!