Procedure and Formality for Issuance of Securities Practicing Certificates

1. Submit directly at the State Securities Commission or send via postal service. In case of sending via postal service, the copies of documents must be certified or issued from the original records. Documents submitted for the securities practicing certificate are non-refundable, including cases of non-issuance of a certificate.

2. In case the documents are written in a foreign language, they must be translated and certified into Vietnamese by competent organizations as prescribed by Vietnamese law. For individuals requesting the securities practicing certificate who are foreigners, documents issued or certified by foreign competent authorities must be consularly legalized within six (06) months from the date the State Securities Commission receives the application.

3. Within seven (07) days from the date of receiving a valid application, the State Securities Commission shall issue a decision on granting the securities practicing certificate and notify the applicant to pay the fee. In case of rejection, the State Securities Commission must respond in writing, clearly stating the reason for rejection.

4. In case the application for the securities practicing certificate is not valid, within five (05) working days from the date of receiving the application, the State Securities Commission shall notify the applicant to amend and supplement the application. The applicant must complete the application within sixty (60) days from the date of receiving the notification of amendment and supplement from the State Securities Commission. After this period, the previously submitted application to the State Securities Commission loses its validity.

5. Within three (03) years from the date the State Securities Commission notifies the fee payment for the securities practicing certificate, if the certificate holder does not complete the certificate receipt procedures, the State Securities Commission will issue a decision to cancel the issued securities practicing certificate.

For details, see Circular 197/2015/TT-BTC effective from January 25, 2016.

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