Regulation on employees of securities investment fund management companies in Vietnam

Duc Thao

17:25, 01/01/2021

The Ministry of Finance of Vietnam has issued the Circular No. 99/2020/TT-BTC providing guidance on operation of securities investment fund management companies.

According to the Circular No. 99/2020/TT-BTC of the Ministry of Finance of Vietnam, in addition to the General Director (Director) and Deputy General Directors (Deputy Directors), the fund management company must have at least 05 employees possessing fund management practicing certificate during its operation.

Concurrently, the fund management company must arrange persons having securities practicing certificate to hold the following working positions:

- Executives of the fund; managers and deputy managers of specialized departments in investment analysis, investment appraisal and investment decision-making; employees directly taking charge of investment analysis, investment appraisal and investment decision-making must possess fund management practicing certificate;

- Manager and deputy manager of securities investment consulting department, and securities investment consultants; manager and deputy manager of investment department, and employees directly making investments for trustors must possess appropriate securities practicing certificate.

Moreover, only employees of securities trading departments are purchased professional liability insurance by the fund management company if necessary or establish the risk management fund which shall be used for making compensation for trustors.

More details at the Circular No. 99/2020/TT-BTC of the Ministry of Finance of Vietnam, effective from January 01, 2021.

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