Powers and organization of State Securities Commission

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The recently signed Decision which replaces the previous Decision N°. 63/2007/QD-TTg issued in 2007 by the Prime Minister outlines the SSC’s regulatory and administrative powers with respects to securities and securities market. SSC remains as a subordinated agency under the Ministry of Finance (MOF) “functioning to advise and assist the minister of MOF in performing the state management of securities and securities market.” The Decision now gives the minister of MOF the power, rather the Prime Minister as previously to appoint the Commission’s chair who may have no more than 3 vice chairs. Initially SSC was an independent agency under the Government but was subsequently folded under MOF. An organizational chart of SSC based on this Decision is attached to this alert.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© john yue, DNH Law LLC (Vietnam) | Attorney Advertising

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