Supervisory bank must make monthly reports on the management of assets of the investment company in Vietnam

Supervisory bank must make monthly reports on the management of assets of the investment company in Vietnam (Internet image)

Article 36 of Circular 227/2012/TT-BTC stipulates that the supervisory bank must make and send monthly, quarterly, and annual reports to the State Securities Commission on the management of assets of the investment company carried out by the asset management company, according to the template in Annex 20 enclosed with Circular 227/2012/TT-BTC; The report made by the supervisory bank must assess the conformity with law and the charter, in particular:

• Assess the conformity of the asset management company in the investments and transactions of the investment company;

• Assess the determination of the net asset value of the investment company, specifying the cases of incorrect valuation (if any);

• The share offering of the investment company;

• The violations (if any) committed by the asset management company, and the suggested solutions.

- The supervisory bank shall send reports to the State Securities Commission within 24 hours from the discovery of the violations in the following cases:

• The asset management company violates the laws on securities and securities market;

• The damage caused by the asset management company is tremendous, and the cost of resolving consequences is too high;

• Other cases at the request of the State Securities Commission.

- Depository banks and supervisory banks must comply with the regulations applicable to asset management companies in Clause 6, 7, and 8 Article 35 of this Article.

More details can be found in Circular 227/2012/TT-BTC, which comes into force from July 1, 2013.

Le Vy

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