MINISTRY OFFINANCE ---SOCIALIST REPUBLIC OF VIETNAM Independence - Freedom – Happiness CIRCULAR REGULATIONS ON PRICES OF SECURITIES-RELATED SERVICES APPLIED AT SECURITIES TRADING ORGAN
Trang 1MINISTRY OF
FINANCE
-SOCIALIST REPUBLIC OF VIETNAM Independence - Freedom – Happiness
CIRCULAR
REGULATIONS ON PRICES OF SECURITIES-RELATED SERVICES APPLIED AT SECURITIES TRADING ORGANIZATIONS AND COMMERCIAL BANKS JOINING
VIETNAM’S SECURITIES MARKET
Pursuant to the Law on securities dated June 29, 2006 and the Law dated November 24, 2010 on amendments to a number of articles of the Law on securities;
Pursuant to the Law on fees and charges dated November 25, 2015;
Pursuant to the Law on pricing dated June 20, 2012;
Pursuant to the Decree No 177/2013/ND-CP dated November 14, 2013 and the Decree No
149/2016/ND-CP dated November 11, 2016 by the Government on amendments to some articles of the Government’s Decree No 177/2013/ND-CP dated November 14, 2013 elaborating and guiding the implementation of some articles of the Law on pricing;
Pursuant to the Decree No 58/2012/ND-CP dated July 20, 2012 and the Decree No
60/2015/ND-CP dated June 26, 2015 by the Government on amendments to some articles of the Government’s Decree No 58/2012/ND-CP dated July 20, 2012 elaborating and guiding the implementation of some articles of the Law on securities and the Law on amendments to some articles of the Law on securities;
Pursuant to the Government’s Decree No 86/2016/ND-CP dated July 01, 2016 on requirements for investment and trading in securities;
Pursuant to the Government’s Decree No.215/2013/ND-CP dated 23 December 2013 defining the functions, tasks, powers and organizational structure of Ministry of Finance;
At the request of Director of Department of Price Management and Chairman of the State
Securities Commission of Vietnam,
Minister of Finance promulgates a Circular providing for prices of securities-related services applied at securities trading organizations and commercial banks joining the Vietnam’s securities market.
Article 1 Scope
This Circular deals with regulations on prices of securities-related services applied at securities trading organizations and commercial banks joining the Vietnam’s securities market
Article 2 Regulated entities
Trang 21 Providers of services in securities trading sector, including securities trading organizations (including securities companies, fund management companies, branches of foreign securities companies in Vietnam, and branches of foreign fund management companies in Vietnam), and commercial banks joining the Vietnam’s securities market in accordance with prevailing laws
2 Organizations and individuals using securities-related services provided by service providers mentioned in Clause 1 of this Article
3 Other organizations and individuals concerned
Article 3 Prices of securities-related services
1 The prices of services in securities trading sector applied at securities trading organizations and commercial banks joining the Vietnam’s securities market are elaborated in the Price Schedule and Appendix enclosed to this Circular
Providers of services in securities trading sector mentioned in Article 2 hereof shall, based on the maximum price and the price bracket prescribed in this Circular, decide specific prices in
conformity with their provision of services and in accordance with regulations of the Law on pricing and relevant laws
2 Prices of securities-related services prescribed hereof are not subject to value-added tax in
accordance with regulations in Point c Clause 8 Article 5 of the Law on value-added tax and related amendment documents (if any)
3 When collecting services fees in securities trading sector, securities trading organizations and commercial banks must use service invoices in accordance with regulations in the Government’s Decree No 51/2010/ND-CP dated May 14, 2010 on goods and services invoices, the Government’s Decree No 04/2014/ND-CP dated January 17, 2014 on amendments to the Government’s Decree
No 51/2010/ND-CP dated May 14, 2010 on goods and services invoices, the Circular No 39/2014/ TT-BTC dated March 31, 2014 by Minister of Finance guiding the implementation of the Decree
No 51/2010/ND-CP dated May 14, 2010 and the Decree No 04/2014/ND-CP dated January 17,
2014 by the Government on regulations on goods and services invoices, and their superseding or amending documents (if any)
4 Securities trading organizations and commercial banks joining the securities market shall manage and use the proceeds from their provision of securities-related services after deduction of amount payable to state budget as regulated by law in accordance with regulations of prevailing laws
5 Securities trading organizations and commercial banks joining the securities market may
themselves decide the prices of their services other than those prescribed in the Price Schedule hereof in conformity with actually provided services and in accordance with regulations of the Law
on pricing and relevant laws
6 Providers of services in securities trading sector must post and announce prices of their services, and comply with regulations of the Law on pricing, the Law on securities and their instructional documents
Article 4 Implementation
1 This Circular shall come into force as from January 01, 2017 and supersede the Circular No 38/2011/TT-BTC dated March 16, 2011 by Minister of Finance on securities-related service fees
Trang 3applied at securities service providers, the collection, management and use thereof; the Circular No 216/2013/TT-BTC dated December 31, 2013 by Minister of Finance on amendments to the Circular
No 38/2011/TT-BTC dated March 16, 2011; Clause 4 Article 14 of the Circular No 183/2011/TT-BTC dated December 16, 2011 by Minister of Finance providing guidance on the establishment and management of open funds and Clause 8 Article 1 of the Circular No 15/2016/TT-BTC dated January 20, 2016 by Minister of Finance on amendments to some articles of the Circular No 183/2011/TT-BTC
2 Difficulties that arise during the implementation of this Circular should be reported to the
Ministry of Finance for consideration./
PP MINISTER DEPUTY MINISTER
Tran Van Hieu
PRICE SCHEDULE OF SERVICES IN SECURITIES TRADING SECTOR APPLIED AT SECURITIES TRADING ORGANIZATIONS AND COMMERCIAL BANKS JOINING
VIETNAM’S SECURITIES MARKET
(Enclosed to the Circular No 242/2016/TT-BTC dated November 11, 2015 by Minister of Finance)
1 Price of underwriting service
From 0.5% to 2% of total value of shares issued through a guaranteed offering
Securities companies, commercial banks
Issuers
2 a) Price of brokerage
service to buy/sell
shares or fund
certificates (inclusive
of securities registered
for trading on Upcom)
From 0.15% to 0.5% of trading value
Securities companies
Clients
b) Price of brokerage
service to buy/sell
shares or fund
certificates in case of
withdrawal of state
capital
Not exceeding 0.03% of trading value and not exceeding VND 03 billion per transaction In special cases where the service fee exceeds the maximum price, service provider must submit report thereof
to the Minister of Finance
Trang 4for consideration and decision in accordance with regulations of the Law on pricing and relevant laws
3
Price of service of
managing public
securities investment
funds or public
securities investment
companies
Not exceeding 2% of the Net Asset Value (NAV)
of the fund or the portfolio per year
Fund management companies
Public securities investment funds
or public securities investment companies
4
Price of service of
supervising assets of
closed-end funds or
public securities
investment companies
Not exceeding 0.15% of the value of managing assets
Supervisory banks
Closed-end funds or public securities investment companies
5
Price of service of
representing
bondholders
Not exceeding 0.1% of total value of issued bonds
Commercial banks joining bond market
Bond issuers
6
Price of service of
issuance of certificates
of closed-end funds or
shares of public
securities investment
companies
Fund management companies
Closed-end funds or public securities investment companies
a)
Total value of fund
certificates or shares
issued for sale is less
than VND 500 billion
2% of the mobilized capital per issuance of fund certificates or shares
b)
Total value of fund
certificates or shares
issued for sale is from
VND 500 billion to less
than VND 1000 billion
1.5% of the mobilized capital per issuance of fund certificates or shares
c)
Total value of fund
certificates or shares
issued for sale is VND
1000 billion or above
1% of the mobilized capital per issuance of fund certificates or shares
7
Price of service of
issuance of certificates
of open-end funds or
ETFs
Not exceeding 5% of trading value
Fund management companies
Clients
8
Price of service of
redemption or switch of
certificates of open-end
funds or ETFs
Not exceeding 3% of trading value
Fund management companies
Clients
Trang 5service banks
members, organizations directly opening accounts
a) Shares, fund
certificates
0.01% of the netting value
of each member/ method
of settlement/ day of settlement provided it shall not be lower than VND 5,000/day/member and shall not exceed VND 300,000/day/member
b) Bonds
0.001% of the netting value of each member/
method of settlement/ day
of settlement provided it shall not be lower than VND 5,000/day/member and shall not exceed VND 300,000/day/member
10 Price of auction service
From VND 20 million per auction of shares or each type of securities to 0.3%
of total value of shares or securities of a type actually sold out
Organizations (other than stock exchanges) licensed to organize auction
of shares and other securities
as regulated by laws
Enterprises, organizations or individuals having shares or securities sold out in auction as regulated by laws
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