Vietnam: Securities companies that fail to prepare any prudential ratio report shall be placed under special control

09:34, 24/08/2017

This is a new point specified in Circular No. 87/2017/TT-BTC of the Ministry of Finance of Vietnam on prudential indicators and actions against securities-trading organizations that fail to achieve prudential indicators.

Circular No. 87/2017/TT-BTC of the Ministry of Finance of Vietnam supplements cases where securities companies shall be put under special control, specifically as follows:

- The securities-trading organization has not prepared any prudential ratio report for two (02) consecutive reporting periods, or fails to carry out audits or examine prudential ratio reports or fails to publish the prudential ratio reports examined or audited by a accredited audit organization; or

- The prudential ratio report about which the accredited audit organization issues a dissenting or contrary opinion, or a disclaimer of opinion, or fails to issue any opinion, or issues a qualified opinion, the liquid capital ratio is below 120%, if the exceptions are not included in the liquid capital.

More details can be found in Circular No. 87/2017/TT-BTC of the Ministry of Finance of Vietnam, which takes effect from October 10, 2017 and replaces Circular No. 226/2010/TT-BTC.

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