Vietnam: Guidelines for application for securities depository registration of commercial banks

17:23, 05/12/2019

Recently, the National Assembly of Vietnam has issued the Law on Securities 2019, replacing the Law on Securities 2006 and the amended Law on Securities 2010.

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Hướng dẫn Hồ sơ đăng ký hoạt động lưu ký chứng khoán cho NHTM, Luật Chứng khoán 2019

According to the Law on Securities 2019 of Vietnam, a commercial bank or foreign branch banks (FBB) may apply for securities depository registration when it:

- has the license for establishment and operation in Vietnam which allows provision of securities depository services;

- has satisfactory capital adequacy ratios prescribed by banking laws and has profit in the last year; and

- has the premises and equipment serving the depositing and payment of securities.

Thus, after satisfying the above conditions, a commercial bank or FBB shall prepare application for securities depository registration, including:

- The application form;

- The applicant’s license for establishment and operation;

- The description of the applicant’s premises and equipment serving the depositing and payment of securities;

- Documents proving the applicant’s satisfactory capital adequacy ratios prescribed by banking law;

- The latest audited annual financial statement.

Concurrently, a securities company may apply for securities depository registration when it is licensed for securities brokerage. A securities company’s application for securities depository registration shall consist of:

- The application form;

- The description of the applicant’s premises and equipment serving the depositing and payment of securities.

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

Ty Na

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