How many years for failing to work as certified securities professionals are securities professional certifications revoked in Vietnam?

1. How many years for failing to work as certified securities professionals are securities professional certifications revoked in Vietnam?

In Clause 3, Article 97 of the Securities Law 2019, securities practice certificates are prescribed as follows:

3. A securities professional certification will be revoked if its holder:

a) no longer satisfies the requirements specified in Clause 2 of this Article;

b) commits any of the offences specified in Article 12 or Clause 2 Article 98 of this Law; or

c) fails to work as a certified securities professional for 03 consecutive years.

Thus, according to the above provisions, if you fail to work as a certified securities professional for 03 consecutive years in Vietnam, your practicing certificate will be revoked. Up to now, it has been 2 years since you were granted a practicing certificate, if by August 2023 you still do not practice, your certificate will be revoked.

2. Can a securities professional certification revoked due to failing to work be re-issued in Vietnam?

According to Clause 1, Article 214 of Decree No. 155/2020/ND-CP, the securities practicing certificate will be reissued in the following cases:

a) The certificate is revoked according to Point a or Point c Clause 3 Article 97 of the Law on Securities; is damaged or lost;

b) The applicant’s personal information on the certificate is changed (ID number, passport number, nationality, full name, date of birth).

Therefore, according to the above regulations, if your securities practicing certificate is revoked due to not practicing for 3 consecutive years, you can still apply for a re-issuance in Vietnam.

3. What does application for reissuance of the securities practicing certificate that was revoked due to failing to work in Vietnam comprise?

Pursuant to Clause 2, Article 214 of Decree No. 155/2020/ND-CP stipulating an application for reissuance of the securities practicing certificate shall contain:

a) In case the certificate is revoked according to Point a or Point c Clause 3 Article 97 of the Law on Securities, the documents specified in Clause 4 Article 213 of this Decree;

b) In case the certificate is lost or damaged or the applicant’s personal information on the certificate is changed, the application form No. 85 in the Appendix hereof, the unexpired ID card or passport; 02 4x6 cm photos taken within 06 months before the application is received by SSC; the securities practicing certificate issued by SSC unless it is lost.

In Clause 4, Article 213 of Decree 155/2020/ND-CP, an application for the securities practicing certificate includes:

4. An application for the securities practicing certificate shall contain:

a) The application form No. 85 in the Appendix hereof;

b) The applicant’s personal information sheet according to Form No. 67 in the Appendix which must be prepared within the last 06 months before the application is received by SSC;

c) The judicial record issued by a competent authority within the last 06 months before the application is received by SSC;

d) The applicant’s bachelor’s degree, master’s degree or doctoral degree;

dd) A lawful securities practicing certificate issued overseas or equivalent documents proving that the applicant is lawfully practicing securities in a foreign country; qualifications in securities or equivalent certificates;

e) 02 4x6 cm photos that are taken within the last 06 months before the application is received by SSC;

g) In case of applying for the fund management certificate, the application shall include a document certifying the seniority and position of the applicant issued by the applicant’s current workplace or former workplaces.

When you want to apply for a re-issuance of a securities practicing certificate that has been revoked due to failing to work, you need to prepare a set of documents containing the above-mentioned documents in Vietnam.

Best Regards!