Circular No. 147/2012/TT-BTC dated September 10, 2012 of the Ministry of Finance on amending and supplementing a number of articles of “regulations on securities practice” promulgated together with the Decision No.15/2008/QD-BTC, of march 27, 2008 of the Minister of Finance

CIRCULAR

ON AMENDING AND SUPPLEMENTING A NUMBER OF ARTICLES OF “REGULATIONS ON SECURITIES PRACTICE” PROMULGATED TOGETHER WITH THE DECISION NO.15/2008/QD-BTC, OF MARCH 27, 2008 OF THE MINISTER OF FINANCE

Pursuant to the Law on Securities dated 29 June 2006;

Pursuant to the Law on amending and supplementing a number of articles of Law on Securities dated 24 November 2010;

Pursuant to the Government’s Decree No.58/2012/ND-CP, dated 20 July, 2012 detailing and guiding implementation of a number of articles of the Law on Securities and Law on amending and supplementing a number of articles of Law on Securities;

Pursuant to the Government s Decree No.118/2008/ND-CP, dated 27 November 2008 defining the functions, tasks, powers and organizational structure of the Ministry of Finance;

At the proposal of the Chairperson of the State Securities Commission;

The Minister of Finance promulgates Circular on amending and supplementing a number of articles of “regulations on securities practice” promulgated together with the Decision No.15/2008/QD-BTC, dated 27 march 2008 of the Minister of Finance,

Article 1.To amend and supplement a number of articles of “Regulations on securities practice” promulgated together with the Decision No.15/2008/QD-BTC, dated 27 march 2008 of the Minister of Finance, as follows:

1.To annul point b, clause 1, Article 4.

2.To amend Article 5 as follows:

“Article 5.-Dossier of and procedures for issuance of a securities practice certificate

1. A dossierfromdomestic individuals requesting for issuance of a securities practice certificateshall comprise:

a) Request for issuance of a securities practice certificate (made according tothestandard form in Appendix 1 oftheRegulations on securities practice)

b) Summarized curriculum vita of the applicant (made according to the standard form in Appendix promulgated together with this Circular) be certified signature of declarer within the six (6) month period prior to the date on which the State Securities Commission receives the dossier;

c) Legal record issued by the competent authority within the six (6) month period prior to the date on which the State Securities Commission receives the dossier, enclosed with a valid copy of the currently valid people s identity card or passport;

d) Valid copy of university degree, masters degree or doctorate;

dd) Valid copy of the lawful overseas securities practice certificate or equivalent document proving that the applicant has been permitted to legally conduct securities practice overseas (if any);

e) Valid copies of certificates of expertise in securities or of the degrees entitling exemption from such certificates of expertise in securities as prescribed in article 4 of the Regulations on securities practice;

g) Results of the examination taken for the type of securities practice certificate requested;

h) Two (02) photos (size 4 x 6) taken within the six (06) month period prior to the date on which the State Securities Commission receives the dossier;

i) In the case of a request for issuance of a fund management practice certificate, the dossier must also contain a document from the competent organization certifying, proving that the applicant has the required number of years experience working in the finance, banking sector (unless the applicant is exempt) as stipulated in point c, clause 3, article 4 of the Regulations on securities practice.

2.A dossier from a foreigner for the issuance of a securities practice certificate shall comprise:

a) The documents stipulated in points a, c, d, dd, e, g, h and i of clause 1 of this article;

b) Summarized curriculum vita of the applicant (made according to the standard form in Appendix promulgated together with this Circular) be certified signature of declarer within the six (6) month period prior to the date on which the State Securities Commission receives the dossier.

3.The dossier prescribed in either clause 1 or clause 2 of this article shall be prepared in one (01) set and sent to the State Securities Commission, and shall not be returnable even in a case of refusal to issue the securities practice certificate.

Any documents which are in a foreign language must be translated with notarization into Vietnamese. If the applicant has foreign nationality, the documents which are issued or certified by foreign competent state agencies mustbe consularly legalizedwithin the six (6) month period prior to the date on which the State Securities Commission receives the dossier;

4.The State Securities Commission shall issue a decision on grant of securities practice certificate and notification of submission of Fees for issuance (if dossier has been valid) or notification of amending and supplementing dossier (ifdossierhas not yet been valid) to the applicant within a time-limit of five (05) working days from the date of receipt of a dossier. The applicant for issuance of a securities practice certificate must pay fee before receiving securities practice certificate. In a case of refusal, the State Securities Commission shall provide a written response explaining its reasons and publish on its website.

5.A securities practice certificate shall only be valid for use when the holder works in a professional position at a securities company, fund management company or securities investment company, and when such company notifies the SSC thereof.

6.Issued securities practice certificates shall have an unspecified duration, except in a case where a securities practice certificate is withdrawn as prescribed in clause 1, article 7 of the Regulations on securities practice.”

3.To annul the Form of Summarized curriculum vita of securities practicer specified in the Appendix 2 issued together with the Regulations on securities practice.

Article 2. Organization of implementation

1.This Circular takes effect from November 01, 2012.

2.In the course of implementation, any problem arising should be reported to the Ministry of Finance by relevant organizations, individuals for research, guide and settlement