THE MINISTRY OF FINANCE
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No. 165/2012/TT-BTC
SOCIALIST REPUBLIC OF VIETNAM
Independence - Freedom - Happiness
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Hanoi, October 09, 2012
 
CIRCULAR
AMENDING AND SUPPLEMENTING A NUMBER OF ARTICLES OF THE CIRCULAR NO. 226/2010/TT-BTC DATED DECEMBER 31, 2010 OF THE MINISTRY OF FINANCE, ON THE PRUDENTIAL RATIO AND THE HANDLING MEASURES FOR THE SECURITIES INSTITUTIONS THAT FAIL TO ACHIEVE THE PRUDENTIAL RATIO
Pursuant to the Law on amending and supplementing a number of articles of the Law on Securities dated November 24, 2010;
Pursuant to the Law on Enterprise dated November 29, 2005;
Pursuant to the Government's Decree No. 58/2012/NĐ-CP dated July 20, 2012, detailing and guiding the implementation of a number of articles of the Law on Securities and the Law on amending and supplementing a number of articles of the Law on Securities;
Pursuant to the Government's Decree No. 118/2008/NĐ-CP dated November 27, 2008, defining the functions, tasks, powers and organizational structure of the Ministry of Finance;
At the proposal of the President of the State Securities Commission,
The Minister of Finance promulgates a Circular to amend and supplement a number of articles of the Circular No. 226/2010/TT-BTC dated December 31, 2010 of the Ministry of Finance, on the prudential ratio and the handling measures for the securities institutions that fail to achieve the prudential ratio;
Article 1. Amending and supplementing a number of articles of the Circular No. 226/2010/TT-BTC dated December 31, 2010 of the Ministry of Finance, on the prudential ratio and the handling measures for the securities institutions that fail to achieve the prudential ratio as follows:
1. Adding Clause 3 to Article 3 of the Circular No. 226/2010/TT-BTC as follows:
 “4. The prudential ratio statement of June must be examined by an audit organization permitted to audit securities institutions (hereinafter referred to as a permitted audit organization) under the Vietnam’s Audit Standard No. 910. The prudential ratio statement of December and the prudential ratio statement used for proving that the securities institution is eligible for not being kept under control or special control by a permitted audit organization under the Vietnam’s Audit Standard No. 800, and other relevant Audit Standards. The securities institution must establish an internal control and communication system for recording, monitoring, and updating the financial information and detailed information serving the establishment, examination, and audit of the prudential ratio statements. The Director (management board) of the securities institution must be responsible for establishing and presenting the prudential ratio statement in accordance with this Circular.”
2. Amending Clause 2 to Article 10 of the Circular No. 226/2010/TT-BTC as follows:
 “2 The State Securities Commission shall issue warnings and make decisions on putting securities trading institutions under control as prescribed in Article 12 of this Circular, or special control as prescribed in Article 14 of this Circular. Within 24 hours as from making the decision, the State Securities Commission, the Stock Exchange, and the securities institution must disclose this information on their websites.”
3. Amending and supplementing Clause 1 to Article 11 of the Circular No. 226/2010/TT-BTC as follows: