THE LEGAL CAPITAL FOR SECURITIES DEALING IS ONLY VND 50 BILLION
On November 07, 2018, the Government issues the Decree No. 151/2018/ND-CP on amendments to some Decrees on business conditions under the management of the Ministry of Finance.
Accordingly, the legal capital for securities dealing of a securities company is reduced a half to VND 50 billion instead of VND 100 billion.
The Decree also changes some conditions of general director (director) for grant of an establishment and operation license of a securities company as follow:
- He/she must have at least 02 years' experience of working in services departments in the field of finance, banking and/or securities or in finance, accounting and/or investment departments of other enterprises and have at least 02 years' experience in administration;
- He/she is not facing penalty/penalties as prescribed by laws on securities and securities market within the latest 06 months from the submission date of application.
As in the previous regulations, general director (director) must have at least 03 years’ experience of working in the above sections and have at least 03 years’ management and administration experience.
