Types of securities professional certifications in Vietnam

Types of securities professional certifications in Vietnam (Internet image)

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

1. Types of securities professional certifications in Vietnam

According to Clause 1, Article 97 of the Law on Securities 2019, securities professional certifications include:

- Securities broker certificate;

- Financial analyst certificate;

- Fund management certificate.

2. Conditions for issuance of securities professional certification to individuals in Vietnam

According to Clause 2, Article 97 of the Law on Securities 2019, a securities professional certification will be granted to an individual who:

- Has full legal capacity; is not facing criminal prosecution and is not being banned from securities practice as prescribed by law;

- Has a bachelor’s degree or above;

- Has professional training in securities; and:

- Passes the test for the securities professional certification. Foreigners who have securities qualifications and foreign certified securities professionals need to pass the test securities and securities market of Vietnam.

3. Cases of revocation of securities professional certification in Vietnam

According to Clause 3, Article 97 of the Law on Securities 2019, a securities professional certification will be revoked if its holder:

- No longer satisfies the requirements specified in Section 2;

- Commits any of the offences specified in Article 12 or Clause 2 Article 98 of the Law on Securities 2019; or

- Fails to work as a certified securities professional for 03 consecutive years.

4. Securities-related offences in Vietnam

Securities-related offences under Article 12 of the Law on Securities 2019 are as follows:

- Direct or indirect commission of frauds, forgery of documents, provision or disclosure of false information to conceal true information or omit necessary information in a manner that causes misunderstanding, adversely affects the offering, listing, trading, investment of securities and provision of securities-related services.

- Use of internal information to buy or sell securities to oneself or another person; revelation or provision of internal information; advising another person to buy or sell securities based on internal information.

- Use of one or several accounts of oneself or another person, trading securities in a manner that creates artificial demand or supply; collaborating with another person in trading securities to manipulate securities prices; use of other methods, with or without false information, to manipulate securities prices.

- Engaging in securities trade or provision of securities-related services without a license, certification or approval from SSC.

- Use of a client’s account or asset without the client’s authorization or against the law; abuse of trust to appropriate a client’s assets.

- Allowing another person to borrow the account to trade securities, hold securities in the name of another person for the purpose of manipulating securities prices.

- Organizing the securities market against regulations of the Law on Securities 2019.

4. Rules for securities activities in Vietnam

TRules for securities activities according to Article 5 of the Law on Securities 2019 are as follows:

- Respect of ownership and other rights to assets in securities activities; freedom to trade, invest and provide information about securities of organizations and individuals.

- Fairness, openness, transparency.

- Protection of investors’ the lawful rights and interests.

- Accept risks.

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