THE MINISTRY OF FINANCE
 
No. 146/2014/TT-BTC
THE SOCIALIST REPUBLIC OF VIETNAM
Independence - Freedom - Happiness
Hanoi, October 6, 2014
 
 
CIRCULAR
Guiding the financial regime for securities companies and
fund management companies
 
Pursuant to June 29, 2006 Securities Law No. 70/2006/QH11;
Pursuant to November 24, 2010 Law No. 62/2010/QH12 Amending and Supplementing a Number of Articles of the Securities Law;
Pursuant to November 29, 2005 Enterprise Law No. 60/2005/QH11;
Pursuant to the Government’s Decree No. 215/2013/ND-CP of December 23, 2003, defining the functions, tasks, powers and organizational structure of the Ministry of Finance;
Pursuant to the Government’s Decree No. 58/2012/ND-CP of July 20, 2012, detailing and guiding the implementation of a number of articles of the Securities Law and the Law Amending and Supplementing a Number of Articles of the Securities Law;
At the proposal of the Director of the Department for Finance of Banks and Financial Institutions,
The Minister of Finance promulgates the Circular guiding the financial regime for securities companies and fund management companies.
Chapter I
GENERAL PROVISIONS
Article 1. Scope of regulation
1. This Circular guides the financial regime for securities companies, fund management companies, branches of foreign fund management companies licensed to be established and operate in Vietnam.
2. Vietnam-based branches of foreign fund management companies shall observe the financial regime prescribed in Article 21 of Circular No. 91/2013/TT-BTC of June 8, 2013, on registration for establishment, organization and operation of representative offices of foreign securities trading organizations and branches of foreign fund management companies in Vietnam, and the guidance in this Circular.
Article 2. Subjects of application 
1. Securities companies licensed to be established and operate in Vietnam.
2. Fund management companies and branches of foreign fund management companies (below collectively referred to as fund management companies) licensed to be established and operate in Vietnam.
3. Organizations and individuals related to operation of securities companies and fund management companies.
Article 3. Responsibilities
Chairpersons of Boards of Directors or Members’ Councils or general directors (directors) of securities companies and fund management companies shall take responsibility before law and state management agencies for their observance of the financial, accounting and audit regimes applicable to securities companies and fund management companies.
Chapter II
MANAGEMENT AND USE OF CAPITAL AND ASSETS
Article 4. Equity
1. Charter capital
a/ Any increase or reduction of charter capital of a securities company must comply with the law on establishment, organization and operation of securities companies;
b/ Any increase or reduction of charter capital of a fund management company must comply with the law on establishment, organization and operation of fund management companies.
2. Share capital surplus means a difference between the value calculated based on par value of issued stocks and the actual value raised from the stock issuance (if any).
3. Reserve funds for charter capital supplementation, financial and professional risk provisions.
4. Undivided earnings.
5. Other capital under lawful ownership of securities companies or fund management companies.
Article 5. Use of capital and assets
1. Securities companies and fund management companies shall manage, use and keep track of all existing assets and capital, and conduct accounting under current accounting regulations; fully, accurately and promptly reflect the use and developments of capital and assets in the course of business operation, clearly define responsibility of and sanctions against sections and individuals that cause damage to or loss of assets and capital of these companies.
2. Securities companies and fund management companies shall use their assets and capital to serve their business operations in accordance with the securities law and this Circular.
 

 

[1] Công Báo Nos 953-954 (27/10/2014)