Which agency approved the reorganization of securities companies in Vietnam?

Which agency approved the reorganization of securities companies in Vietnam?

Pursuant to Clause 1, Article 93 of the Securities Law 2019, there are provisions on the reorganization of securities companies and securities investment fund management companies as follows:

1. Reorganization of a securities company or fund management company is subject to approval by SSC. Within 30 days from the receipt of the complete and valid application, SSC shall decide whether to approve the reorganization of the securities company or fund management company. In case of rejection, SCC shall send a written notice and provide explanation.

Thus, to be able to carry out the reorganization of your company in Vietnam requires the approval of the State Securities Commission.

Application for approval of reorganization of securities company in Vietnam

Pursuant to Clause 1, Article 207 of Decree 155/2020/ND-CP , the dossier of application for approval of reorganization of the company includes:

1. The application for approval for reorganization shall include:

a) The application form No. 79 in the Appendix hereof;

b) The minutes of meeting, the decision of the GMS, Board of Members or the company’s owner on reorganization of the company;

c) The contract on principle in case of consolidation or merger according to form No. 80 in the Appendix hereof;

d) The reorganization that has been approved by the company’s GMS, Board of Members or owner according to form No. 81 in the Appendix hereof;

dd) Documents proving conformity with Clause 2, Clause 3 Article 206 of this Decree.

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