To simplify 23 business sectors' reporting regimes related to trading in securities in Vietnam

To simplify 23 business sectors' reporting regimes related to trading in securities in Vietnam (Internet image)

Regarding this matter, LawNet would like to answer as follows: 

On May 14, 2024, the Prime Minister issued Decision 412/QD-TTg 2024, approving the plan to cut and simplify regulations related to business activities under Ministry of Finance of Vietnam for the period 2024–2025.

To simplify 23 business sector's reporting regime related to trading in securities in Vietnam

The following 12 reporting regimes related to trading in securities in Vietnam are expected to be simplified as follows:

(1) Reporting regime 1: Report on the securities custody activities of foreign investors, organizations issuing custodian certificates abroad

Content to be cut and simplified: Implement the Reporting regime through electronic means on the Foreign Investor Management System (FIMS) database.

(2) Reporting regime 2: Report on the capital transfer activities of foreign investors, organizations issuing custodian certificates abroad

Content to be cut and simplified: Implement the Reporting regime through electronic means on the FIMS database.

(3) Reporting regime 3: Report on the management of investment portfolios, investment as instructed for foreign investors

Content to be cut and simplified: Implement the Reporting regime through electronic means on the Fund Management Company and Securities Investment Fund (FMS) database.

(4) Reporting regime 4: Report on the activities of issuing securities transaction codes

Content to be cut and simplified: Implement the Reporting regime through electronic means on the Securities Company Management System (SCMS) database.

(5) Reporting regime 5: Report on the trading activities of foreign investors, organizations issuing custodian certificates abroad

Content to be cut and simplified: Implement the Reporting regime through electronic means on the FIMS database.

(6) Reporting regime 6: Report on the end-of-day open interest of each type of derivative securities

Content to be cut and simplified: Implement the Reporting regime through electronic means on the SCMS database.

(7) Reporting regime 7: Report on the activities of representative offices of securities companies, foreign fund management companies in Vietnam

Content to be cut and simplified: Implement the Reporting regime through electronic means on the SCMS or FMS system.

(8) Reporting regime 8: Report on the activities of branch offices of securities companies and foreign fund management companies in Vietnam

Content to be cut and simplified: Implement the Reporting regime through electronic means on the SCMS or FMS system.

(9) Reporting regime 9: Report on the status of investment portfolio management activities

Content to be cut and simplified: Implement the Reporting regime through electronic means.

(10) Reporting regime 10: Report on changes in the net asset value of public funds, public securities investment companies

Content to be cut and simplified: Implement the Reporting regime through electronic means on the FMS system.

(11) Reporting regime 11: Report on investment activities of funds, securities investment companies

Content to be cut and simplified: Implement the Reporting regime through electronic means on the FMS system.

(12) Reporting regime 12: Report on the summary of fund management activities, securities investment companies

Content to be cut and simplified: Implement the Reporting regime through electronic means on the FMS system.

(13) Reporting regime 13: Report on the supervision of asset management activities of public funds, public securities investment companies

Content to be cut and simplified: Implement the Reporting regime through electronic means on the FMS system.

(14) Reporting regime 14: Report on the activities of fund management companies.

Content to be cut and simplified: Implement the Reporting regime through electronic means on the FMS system.

(15) Reporting regime 15: Report on the management activities of investment portfolios of fund management companies with confirmation from the depository bank where the fund management company opens a depository account, confirmation from the member depository where the customer entrusts to open an account, and confirmation from the foreign depository organization.

Content to be cut and simplified: Implement the Reporting regime through electronic means on the FMS system.

(16) Reporting regime 16: Report on risk management activities of fund management companies.

Content to be cut and simplified: Implement the Reporting regime through electronic means on the FMS system.

(17) Reporting regime 17: Report on the employment status at securities using organizations.

Content to be cut and simplified: Implement the Reporting regime through electronic means on the FMS and SCMS systems.

(18) Reporting regime 18: Report on risk management activities of securities companies.

Content to be cut and simplified: Implement the Reporting regime through electronic means on the FMS and SCMS systems.

(19) Reporting regime 19: Report on meeting the conditions for being a payment bank.

Content to be cut and simplified: Implement the Reporting regime through electronic means on the SCMS system.

(20) Reporting regime 20: Report on meeting the conditions for registering securities depository activities and providing clearing and settlement services for securities transactions.

Content to be cut and simplified: Implement the Reporting regime through electronic means on the SCMS system.

(21) Reporting regime 21: Report on securities transaction payment activities of payment banks.

Content to be cut and simplified: Implement the Reporting regime through electronic means on the SCMS system.

(22) Reporting regime 22: Report on the number of customers, customer account balances at the specialized accounts of securities companies opened at commercial banks.

Content to be cut and simplified: Implement the Reporting regime through electronic means on the SCMS system.

(23) Reporting regime 23: Report on the management activities of entrusted trading accounts.

Content to be cut and simplified: Implement the Reporting regime through electronic means on the SCMS system.

More details can be found in Decision 412/QD-TTg, which comes into force from May 14, 2024.

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