Decision No. 112/2009/QD-TTg dated September 11, 2009, of the Prime Minister defining the functions, tasks, powers and organizational structure of the State Securities Commission of the Ministry of Finance

THE PRIME MINISTER

Decision No. 112/2009/QD-TTg of September 11, 2009, defining the functions, tasks, powers and organizational structure of the State Securities Commission of the Ministry of Finance

THE PRIME MINISTER

Pursuant to the December 25, 2001 Law on Organization of the Government;

Pursuant to the June 29, 2006 Securities Law;

Pursuant to the Government’s Decree No. 178/2007/ND-CP of December 3, 2007, defining the functions, tasks, powers and organizational structures of ministries and ministerial-level agencies;

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

At the proposal of the Minister of Finance,

DECIDES:

Article 1. Position and functions

1. The State Securities Commission is an agency attached to the Ministry of Finance, functioning to advise and assist the Minister of Finance in performing the state management of securities and securities market; directly manage and supervise securities activities and market; and manage the provision of services in the domain of securities and securities market under law.

2. The State Securities Commission has the legal entity status, a seal bearing the national emblem, a separate account at the State Treasury, and its head office in Hanoi city.

Article 2. Tasks and powers

The State Securities Commission has the following tasks and powers:

1. To submit to the Ministry of Finance for subsequent submission to the Government and the Prime Minister for examination and decision:

a/ Draft laws and resolutions of the National Assembly, draft ordinances and resolutions of the National Assembly Standing Committee; draft decrees of the Government; and draft decisions of the Prime Minister on securities and securities market;

b/ Important strategies, planning, national target programs, action programs, schemes and important projects on securities and securities market.

2. To submit to the Minister of Finance for examination and decision:

a/ Draft circulars and other documents on securities and securities market;

b/ Annual plans on development of the securities market.

3. To issue documents providing professional guidance, internal normative documents and documents for specific application falling within the scope of its management.

4. To organize the implementation of legal documents, strategies, planning, plans, programs, schemes and projects on securities and securities market after they are issued or approved by competent authorities.

5. To disseminate, propagate and educate the law on securities and securities market.

6. To grant, extend, invalidate or revoke licenses or certificates related to securities activities and market; to approve changes related to securities activities and market.

7. To manage and supervise the operation of Stock Exchanges, Securities Trading Centers, Securities Depository Centers and assisting organizations; to suspend trading or depository operations of Stock Exchanges, Securities Trading Centers and Securities Depository Centers when there are signs showing that these operations affect legitimate rights and benefits of investors; to approve regulations and rules of Stock Exchanges, Securities Trading Centers and Securities Depository Centers; to approve the listing of new securities, apply new trading methods and put into operation new trading systems.

8. To inspect, supervise and handle administrative violations and settle complaints and denunciations about securities activities and market.

9. To make statistics and forecasts on securities activities and market; to organize the management and application of information technology, and modernize activities in the domain of securities and securities market.

10. To conduct scientific research; to organize, and coordinate with concerned agencies and organizations in, training and retraining of cadres, civil servants and public employees engaged in securities management and securities practitioners; to publicize knowledge about securities and securities market.

11. To undertake international cooperation in the domain of securities and securities market as assigned or decentralized by the Minister of Finance and under law.

12. To guide securities organizations and associations in realizing their operation objectives, guidelines and charters; to inspect the implementation of the State’s regulations, and handle or propose competent state agencies to handle violations committed by securities associations as decentralized by the Minister of Finance and under law.

13. To report on securities and securities market under law and as assigned or decentralized by the Minister of Finance.

14. To manage its own organizational structure and state payroll; to implement the regime of salaries, entitlements and preferential policies for, and reward, discipline, train and retrain, cadres, civil servants and public employees under its management as decentralized by the Minister of Finance and under law; to prevent and fight corruption and negative practices, practice thrift and combat waste in the use of assigned assets and funds under law.

15. To conduct administrative reforms according to the objectives and contents of the administrative reform program approved by the Minister of Finance.

16. To manage allocated state budget funds and other funding sources and assets; to practice the autonomy in state payroll and operating funds under regulations of competent authorities.

17. To perform other tasks and exercise other powers assigned by the Minister of Finance and under law.

Article 3. Organizational structure

1. The Department for Legal Affairs.

2. The Department for Development of Securities Market.

3. The Department for Management of Securities Issuance.

4. The Department for Management of Securities Trading.

5. The Department for Management of Fund Management Companies and Securities Investment Funds.

6. The Department for Supervision of Securities Market.

7. The Department for International Cooperation.

8. The Department for Organization and Personnel.

9. The Department for Finance and Administration.

10. The Office.

11. The Representative Agency in Ho Chi Minh City.

12. The Inspectorate.

13. The Information Technology Department.

14. The Center for Scientific Research and Training Securities.

15. The Securities Magazine.

The units specified in Clauses 1 thru 13 of this Article are administrative ones assisting the Chairman of the State Securities Commission in performing the state management function. The units specified in Clauses 14 and 15 are non-business ones.

The Minister of Finance shall define the functions, tasks, powers and organizational structures of units of the State Securities Commission.

Article 4. Leadership

1. The State Securities Commission has its Chairperson and no more than 3 vice chairpersons.

2. The Chairperson and vice chairpersons of the State Securities Commission shall be appointed, dismissed or demoted by the Minister of Finance under law.

3. The Chairperson is the head of the State Securities Commission and shall be answerable to the Minister of Finance and held responsible before law for all operations of the State Securities Commission. Vice chairpersons of the State Securities Commission shall be answerable to the Chairperson and held responsible before law for working domains assigned to them.

Article 5. Effect and implementation responsibility

1. This Decision takes effect on November 1, 2009.

2. To annul the Prime Minister’s Decision No. 63/2007/QD-TTg of May 10, 2007, defining the functions, tasks, powers and organizational structure of the State Securities Commission of the Ministry of Finance.

3. The number of vice chairpersons of the State Securities Commission complies with the Prime Minister’s current regulations pending the Prime Minister’s issuance of another decision.

4. Ministers, heads of ministerial-level agencies and government-attached agencies, chairpersons of provincial-level People’s Committees and the Chairperson of the State Securities Commission shall implement this Decision.-

Prime Minister
NGUYEN TAN DUNG