Application for certificate of eligibility to provide clearing and settlement services in Vietnam

According to the Decree No. 158/2020/NĐ-CP of the Vietnam’s Government, an application for certificate of eligibility to provide clearing and settlement services consists of:

- The application form made using Form No. 04 in the Appendix enclosed herewith;

- The resolution of the General Meeting of Shareholders, Board of Members or the owner’s decision on provision of derivative clearing and settlement services;

- The audited financial statements of the last 02 fiscal years and the latest reviewed mid-year financial statements (in case an application for certificate of eligibility to trade derivatives is submitted after June 30); the prudential ratio reports in the last 12 months (for a securities company) or documents proving the satisfaction of capital adequacy ratios (for a commercial bank or foreign branch banks (FBB));

- Internal control and risk management procedures for derivative clearing and settlement services;

- Approval of the State Bank of Vietnam (SBV) given to the commercial bank or FBB for provision of derivative clearing and settlement services in accordance with regulations of law on credit institutions.

Concurrently, a full set of original application documents is required. If a copy of document is submitted, it must be a copy extracted from master register or a certified copy. The application shall be submitted to the State Securities Commission of Vietnam (SSC) directly, by post or through the online public service system as regulated by the Minister of Finance of Vietnam.

More details at the Decree No. 158/2020/NĐ-CP of the Vietnam’s Government, effective from January 01, 2021.

Ty Na

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