Vietnam: General Director of the securities company must have the practicing certificate for asset management

On November 26, 2019, the National Assembly of Vietnam issued the Law on Securities 2019, replacing the Law on Securities 2006 and the amended Law on Securities 2010.

Tổng giám đốc công ty chứng khoán phải có chứng chỉ hành nghề quản lý quỹ , Luật Chứng khoán 2019

According to Article 74 of the Law on Securities 2019 of Vietnam on requirements for issuing the securities trading license to a securities company, there is a General Director (Director), at least 03 employees having suitable securities trading certifications for the licensed operations, and at least 01 employee in charge of compliance management. The General Director (Director) shall:

1. Not be facing criminal prosecution, serving an imprisonment sentence or being banned from securities trading as prescribed by law;

2. Have at least 02 years’ experience of working in specialized departments of finance, securities, banking, insurance organizations or in finance, accounting, investment departments of other organizations;

3. Have the practicing certificate for financial analysis or asset management;

4. Not incur any administrative penalties for securities-related offenses in the last 06 months prior to the application date.

The Deputy General Directors (Deputy Directors) in charge of specific operations shall satisfy the requirements specified in sections 1, 2 and 4 and have practicing certificates suitable for their operation.

View more details at the Law on Securities 2019 of Vietnam, effective from January 01, 2021.

Ty Na


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