Cut-off and simplification of investment and business requirements are important policies of the government for significant changes in the business environment and competitiveness of the economy.
The government on November 7 issued Decree No. 151 to cut off and simplify 117 business requirements in five sectors under the management of the Ministry of Finance (MoF), including securities trading, according to Bao Viet Securities Company (BVSC).
The decree is aimed to amend a number of decrees on business investment requirements in accounting and auditing; lotteries, prize-winning electronic games for foreigners, crediting service, casino, betting, service for voluntary pension fund management; insurance; price assessment; and securities trading, said BVSC in its latest report.
Some notable changes in securities trading sector including: reducing the minimum charter capital for securities dealing from VND100 billon (US$4.29 million) to VND50 billion (US$2.14 million); cutting down the required years of experience for General Director/Director of securities trading organization from 3 years to 2 years;.
In addition, the decree abolishes the requirements for organizations contributing capital to establish the securities trading organization without accumulated losses; changes the conditions for the securities company to be allowed to implement deposit and transaction within same day; and slashes two conditions for securities companies performing margin trading.
Reduction and simplification of investment and business requirements are important policies of the government for significant changes in the business environment and competitiveness of the economy.
Recently, the Law on Securities (amended) has been incorporated into the Law Enforcement Program. Accordingly, during the drafting process, the drafting board and the Ministry of Finance will continue to review regulations to reduce not only business requirements but also other unreasonable regulations to support enterprises.
Illustrative photo.
|
Some notable changes in securities trading sector including: reducing the minimum charter capital for securities dealing from VND100 billon (US$4.29 million) to VND50 billion (US$2.14 million); cutting down the required years of experience for General Director/Director of securities trading organization from 3 years to 2 years;.
In addition, the decree abolishes the requirements for organizations contributing capital to establish the securities trading organization without accumulated losses; changes the conditions for the securities company to be allowed to implement deposit and transaction within same day; and slashes two conditions for securities companies performing margin trading.
Reduction and simplification of investment and business requirements are important policies of the government for significant changes in the business environment and competitiveness of the economy.
Recently, the Law on Securities (amended) has been incorporated into the Law Enforcement Program. Accordingly, during the drafting process, the drafting board and the Ministry of Finance will continue to review regulations to reduce not only business requirements but also other unreasonable regulations to support enterprises.
Other News
- Hanoi hosts the “Green Products for Consumers” fair
- Hanoi aims to lead the country in exporting OCOP products
- IT training urged to focus on semiconductors
- 3,400 taels of gold purchased at the first-in-11-year auction
- Hanoi partners with Lai Chau to market OCOP products
- HoSE to launch KRX-developed transaction system in early May
- Central bank moves gold auction to tomorrow
- Hanoi Great Souvenir Fair 2024 to take place next week
- As orders rise, Vietnamese textile firms see better prospects in 2024
- C.bank to auction nearly 17,000 gold taels on April 22
Trending
-
Hanoi, UNESCO pledge further cooperation
-
Vietnam news in brief - April 25
-
Vietnamese contemporary ballet celebrates Europe Day
-
Capital Law revision helps Hanoi promote role as nation’s socio-economic hub
-
IT training urged to focus on semiconductors
-
Voluntary social security should cover larger part of informal sector: Experts
-
ASEAN Future Forum 2024: Promoting regional centrality
-
Central bank moves gold auction to tomorrow
-
[Video]Hanoi beauty spots featured in saxophone legend Kenny G's music video