Decision No. 1826/QD-TTg dated December 06, 2012 of the Prime Minister approving the scheme on "restructuring of the securities market and insurance companies”
THE PRIME MINISTER
SOCIALIST REPUBLIC OF VIET NAM
Independence - Freedom - Happiness
Hanoi, December 06, 2012
APPROVING THE SCHEME ON "RESTRUCTURING OF THE SECURITIES MARKET AND INSURANCE COMPANIES"
THE PRIME MINISTER
Pursuant to the Law on Organization of the Government dated December 25, 2001;
Pursuant to the Law on Securities dated June 29, 2006; Law amending and supplementing a number of Articles of the Law on Securities dated November 24, 2010;
Pursuant to the Law on Insurance Business dated December 09, 2000; Law amending and supplementing a number of Articles of the Law on Insurance Business dated November 24, 2010;
Pursuant to the Law on Investment dated November 29, 2005;
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Pursuant to the Law on the State Bank of Vietnam dated June 16, 2010;
Pursuant to the Law on Credit Institutions dated June 16, 2010;
Pursuant to the Conclusion No.10-KL/TW dated October 18, 2011 of Third Conference of the Central Executive Committee of the XI session on the socio-economic situation, finance and state budget of five years, period 2006 - 2010 and 2011; plan of socio-economic development, finance and state budget of five years, period 2011 - 2015 and 2012;
Pursuant of the Resolution No.01/NQ-CP dated January 03, 2012 of the Government on the key measures of direction and administration of the implementation of plan of socio-economic development and the state budget estimate in 2012;
At the proposal of the Minister of Finance,
Article 1. To approve the scheme of "Restructuring of securities market and insurance companies (hereinafter referred to as the Scheme)" with the following principal contents:
I. OBJECTIVES, ORIENTATION
To wholly restructure securities market and insurance companies in order to gradually improve the role and position of the securities market and insurance companies; to strive toward 2020, to make this market become an important channel of medium- and long-term capital for the economy; to positively support for the currency market in the process of restructuring the credit institutions:
1. To improve quality and to diversify products of securities and insurance; to improve quality of corporate governance, risk management at the issuing organizations; to assure publicity and transparency of the operations on the securities market.
2. To restructure the system of securities trading organizations, insurance companies in accordance with the needs, characteristics and development scale of the market; to strengthen activities, improve financial capacity, corporate governance and risk management in these organizations according to international rules.