Decision 112/2009/QD-TTg on the Functions, Duties, Powers, and Organizational Structure of the State Securities Commission

PRIME MINISTER

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No. 112/2009/QD-TTg

SOCIALIST REPUBLIC OF VIETNAM Independence - Freedom - Happiness

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Hanoi, September 11, 2009

DECISION

Regulating the functions, duties, powers, and organizational structure of the State Securities Commission under the Ministry of Finance

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PRIME MINISTER

Pursuant to the Law on the Organization of the Government dated December 25, 2001; Pursuant to the Law on Securities dated June 29, 2006; Pursuant to Government Decree No. 178/2007/ND-CP dated December 03, 2007, regulating the functions, duties, powers, and organizational structure of Ministries and ministerial-level agencies; Pursuant to Government Decree No. 118/2008/ND-CP dated November 27, 2008, regulating the functions, duties, powers, and organizational structure of the Ministry of Finance;

Considering the proposal of the Minister of Finance,

DECIDES:

Article 1. Position and Functions

1. The State Securities Commission is an agency subordinate to the Ministry of Finance, performing the function of advising and assisting the Minister of Finance in state management of securities and the securities market; directly managing and supervising securities activities and the securities market; and managing service activities within the field of securities and the securities market in accordance with the law.

2. The State Securities Commission has legal entity status, a seal with the shape of the National Emblem, a separate account at the State Treasury, and its headquarters in Hanoi City.

Article 2. Duties and Powers

The State Securities Commission performs the following duties and powers:

1. To submit to the Minister of Finance for presentation to the Government or the Prime Minister for consideration and decision:

a) Draft laws, draft resolutions of the National Assembly, draft decrees, draft resolutions of the Standing Committee of the National Assembly; draft decrees of the Government; draft decisions of the Prime Minister on securities and the securities market;

b) Strategies, master plans, national target programs, action programs, projects, and important projects on securities and the securities market.

2. To submit to the Minister of Finance for consideration and decision:

a) Draft circulars and other documents on securities and the securities market;

b) Annual securities market development plans.

3. To issue documents guiding professional and technical matters, internal regulatory documents, and individual documents within the management scope of the State Securities Commission.

4. To organize the implementation of legal regulatory documents, strategies, master plans, plans, programs, projects, and initiatives in the field of securities and the securities market after they are issued or approved by competent authorities.

5. To propagate, disseminate, and educate on laws regarding securities and the securities market.

6. To issue, renew, suspend, or revoke licenses and certificates related to securities and the securities market activities; to approve changes related to securities and the securities market activities.

7. To manage and supervise the activities of Stock Exchanges, Securities Trading Centers, Securities Depository Centers, and auxiliary organizations; to temporarily suspend trading activities and depository activities of Stock Exchanges, Securities Trading Centers, and Securities Depository Centers in cases where there are signs affecting the legitimate rights and interests of investors; to approve regulations and charters of Stock Exchanges, Securities Trading Centers, and Securities Depository Centers; to approve the listing of new types of securities, changes and application of new trading methods, and the operation of new trading systems.

8. To inspect, supervise, handle administrative violations, and resolve complaints and denunciations in securities and the securities market activities.

9. To perform statistical and forecasting work on securities and the securities market activities; to organize management and application of information technology, and modernize activities in the field of securities and the securities market.

10. To organize scientific research; to organize and coordinate with relevant agencies and organizations to train and improve the capacity of the cadre, civil servant, and staff managing securities and securities practitioners; to普及 (popularize) knowledge about securities and the securities market to the public.

11. To perform international cooperation in the field of securities and the securities market according to the allocation and delegation by the Minister of Finance and legal regulations.

12. To guide securities association organizations to implement their purposes, principles, and operational charters; to inspect the implementation of state regulations, handle or recommend competent state authorities to handle legal violations of securities associations according to the allocation and delegation by the Minister of Finance and legal regulations.

13. To perform reporting on securities and the securities market in accordance with legal regulations and the allocation and delegation by the Minister of Finance.

14. To manage the organizational structure and staffing; to perform salary systems and other welfare, commendation, discipline, training, and improvement policies for cadres, civil servants, and staff within the management scope of the State Securities Commission according to the allocation and delegation by the Minister of Finance and legal regulations; to perform anti-corruption, anti-negative practices, and thrift and anti-waste measures in the use of allocated assets and budgets in accordance with legal regulations.

15. To perform administrative reform according to the goals and content of the administrative reform program approved by the Minister of Finance.

16. To manage budgets allocated from the state budget and other budget sources, and allocated assets; to perform the system of autonomy in staffing and operational budgets according to regulations by competent authorities.

17. To perform other duties and powers assigned by the Minister of Finance and in accordance with legal regulations.

Article 3. Organizational Structure

1. Legal Department.
2. Securities Market Development Department.
3. Securities Issuance Management Department.
4. Securities Business Management Department.
5. Fund Management Companies and Securities Investment Funds Management Department.
6. Securities Market Supervision Department.
7. International Cooperation Department.
8. Personnel Organization Department.
9. Finance and Administration Department.
10. Office.
11. Representative Office of the State Securities Commission in Ho Chi Minh City.
12. Inspection.
13. Information Technology Department.
14. Securities Research and Training Center.
15. Securities Journal.

The organizations specified in paragraphs 1 to 13 of this Article are administrative organizations assisting the Chairman of the State Securities Commission in performing state management functions; the organizations specified in paragraphs 14 and 15 are service units.

The Minister of Finance regulates the functions, duties, powers, and organizational structure of the units under the State Securities Commission.

Article 4. Leadership

1. The State Securities Commission has a Chairman and no more than 03 Vice Chairmen.

2. The Chairman and Vice Chairmen of the State Securities Commission are appointed, dismissed, and removed from office by the Minister of Finance in accordance with legal regulations.

3. The Chairman is the head of the State Securities Commission, responsible to the Minister of Finance and before the law for all activities of the State Securities Commission. The Vice Chairmen of the State Securities Commission are responsible to the Chairman of the State Securities Commission and before the law for the areas of work assigned to them.

Article 5. Effectiveness and Implementation Responsibilities

1. This Decision takes effect from November 01, 2009.

2. Decision No. 63/2007/QD-TTg dated May 10, 2007, of the Prime Minister on regulating the functions, duties, powers, and organizational structure of the State Securities Commission under the Ministry of Finance is repealed.

3. The number of Vice Chairmen of the State Securities Commission shall be implemented according to current regulations of the Prime Minister until the Prime Minister issues another decision.

4. Ministers, heads of ministerial-level agencies, heads of agencies under the Government, Chairmen of Provincial and City People's Committees directly under the Central Government, and the Chairman of the State Securities Commission are responsible for implementing this Decision.

Received by:

• Central Secretariat of the Communist Party of Vietnam;
• Prime Minister, Deputy Prime Ministers;
• Ministries, ministerial-level agencies, agencies under the Government;
• Central Steering Committee for Anti-Corruption Office;
• Provincial and City People's Councils and People's Committees directly under the Central Government;
• Central Office and Departments of the Party;
• Office of the President;
• National Assembly's Ethnic Council and Committees;
• National Assembly Office;
• Supreme People's Court;
• Supreme People's Procuracy;
• State Audit Office;
• National Financial Supervisory Committee;
• Social Policy Bank;
• Vietnam Development Bank;
• Central Committee of the Vietnam Fatherland Front;
• Central agencies of mass organizations;
• State Securities Commission;
• Government Office: Central Committee, Deputy Heads, Electronic Information Portal, Departments, Bureaus, subordinate units, Gazette;
• Filed: Secretariat, Administrative Organization (10b).

PRIME MINISTER

(Signed)

Nguyen Tan Dung