Elimination of annual management fees for ETF certificates

Illustrated photo Source: internet.

On November 25, 2015, the National Assembly issued the Law on fees and charges. The Law will take effect from January 1, 2017.

The Law implementating fees and charges is based on the proposal of the State Securities Commission, and the Ministry of Finance draft circular to replace Circular 67/2014/TT-BTC regulating the levels of fees, collection, payment, management and use of fees in securities at the State Securities Commission.

Accordingly, the basic content of the draft is inherited from regulations in Circular No.67. Nevertheless, it adjusts the content of the declaration and payment of fees of the organization of fee collection and payment; eliminating annual management fees for ETF certificates (passive investment fund on the basis of specific index).

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The Ministry of Finance also proposes to issue additional fees for the Certificate of transaction balance services, transaction of derivative stock, Certificate of the initial sale and supplement; grant, adjust and extend the eligibility of trading derivative securities, the Certificate of overseas investment and branches, and the Certificate for agencies in foreign countries.

It is expected that this Circular will be applied from January 1, 2017 when the Law on charges and fees takes effect.