Allowing securities companies to invest indirectly overseas

15:29 | 26/08/2016 Finance Follow english.haiquanonline.com.vn on

VCN- In circular No.105/2016/TT-BTC of the Ministry of Finance entered into force on 15-8-2016, the Ministry of Finance has officially allowed securities companies to invest overseas indirectly with up to 30% equity.

allowing securities companies to invest indirectly overseas

Circular 105 regulates on indirect investment activities abroad by securities trading organizations, securities investment funds, securities investment companies, insurance business enterprises and activities entrusted abroad portfolio investment by fund management companies.

Accordingly, for securities trading organizations (securities companies, fund management companies), to be approved for indirect overseas investment, these organizations should submit Dossiers and request a grading Certificate of Registration for indirect investment abroad.

Some important contents needed to be included in the profile include the Minutes of meetings and resolutions of the General Meeting of Shareholders/ Board member/ owners of the enrerprise considering indirect investment abroad; indirect investment abroad plans (nations in which it is intended to invest, the capital expected to invest, property intended to invest, expected investment performance and other information); Internal processes for indirect investment abroad;...

Where incurred abroad indirect investments, the total abroad investment, indirect entrusted investments are not exceeded thirty percent (30%) equity according to the financial statements have been tested or audited that are closest to the time of the investment and the investment restrictions, the rate of investment in accordance with the law on guidelines on establishment and operation of securities companies, which in this case include domestic and foreign investments.

Fund management companies are allowed to invest a maximum of twenty percent (20%) equity in the financial statements in the most recent audited financial statements or the most recent semiannual was reviewed and a Recent quarterly financial statements that are not exceeded the limit proprietary trading registry was recognized by State Bank of Vietnam on free investment instruments regulated by State Bank of Vietnam.

Securities investment funds, securities investment companies are allowed to invest a maximum of twenty percent (20%) of net asset value reported in the latest investment activities and not to exceed the limit of self-registering as confirmed by State Bank of Vietnam.

By Thuy Linh/ Luong Ngoc

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invest overseas circular securities companies

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