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New regulation on the functions, duties, authority and organizational structure of the State Securities Commission of Vietnam

          On 10 August, the Decision No.48/2015/QD - TTg was issued by the Prime Minister prescribing functions, duties, authorities and organizational structure of the State Securities Committee directly under the Ministry of Finance.

          Accordingly, the State Securities Commission (SSC) is an agency under the direct control of the Ministry of Finance, consulting and assisting the Minister of Finance in performing state management over securities and stock market; directly administering and monitoring securities activities and stock market; managing activities and services in the field of securities and stock market as regulated by law.


          SSC is responsible for drafting law projects and other statutory documents regarding securities and stock market for the Ministry of Home Affairs to submit to the Government and the Prime Minister for consideration and decisions. Such statutory documents include National Assembly’s Resolutions, Ordinance, Resolutions of the National Assembly Standing Committee, Government’s Decrees, Prime Minister’s Decisions and strategies, plans, national targeted programs, action plans, important proposal and projects for the Ministry of Home Affairs to submit to the Government and the Prime Minister for consideration and decisions.

          Besides, SSC is in charge of: (i) issuing, extending, suspending, withdrawing licenses and certificates regarding securities activities and stock market; and approving the changes in securities activities and stock market; (ii) Managing and supervising operations of Departments of Securities Exchanges, Securities Depository Centers and auxiliary organizations; (iii) Temporarily suspending operations of Department of Securities Exchanges and Securities Depository Centers in case where signs of violations of investors’ rights and legitimate interests are found; (iv) Approving rules and regulations of Departments of Securities Exchanges and Securities Depository Centers; (v) Inspecting, supervising and handling administrative breaches and settle complaints and denunciations in securities activities and stock market, etc...

          SSC is constituted by 15 subordinate units, which are: Department of Legal Affairs; Department of Stock Market Development; Department of Securities Marketing; Department of Public Companies Supervision; Department of Fund Management Companies and Securities Investment Funds; Department of Stock Market Supervision; Department of International Cooperation; Department of Organization and Personnel; Department of Finance - Administration; Office of Commission (Representative Office in located in Ho Chi Minh City); Inspectorate; Bureau of Information and Technology; Center for Scientific Studies and Training on Securities; and Journal on Securities.

          The organizational structure of the State Securities Commission comprises of one Chairman and no more than three Deputies of Chairman. The Chairman and Deputies of the State Securities Commission are appointed, dismissed and deposed by the Minister of Finance as prescribed by law.

          The Decision shall come into effects since 01 December 2015./.

By TTTV

Translated by QG