Gov’t raises licensing fee for securities firms

VNStockNews.com - The Ministry of Finance on Wednesday signed a circular to raise the licensing fee for securities firms from VND80 million to VND120 million as well as other charges in the securities sector.

Stock brokerage licensing fees were increased from VND6 million to VND20 million while issuance guarantees surged from VND24 million to VND60 million. Investment consultancy licensing fees were increased from VND6 million to VND20 million.

Licensing fees for fund management companies were increased to VND30 million while branches of foreign companies were regulated to pay VND20 million for the licenses.

The State Securities Commission of Vietnam was approved to collect 0.01% of share trading values from securities trading centers and committees. The collection is limited to below 20% of share transaction fees.

Vietnam Securities Depository can collect 10% of deposits or transfer fees as a supervision fee. Securities investment firms with capital of over VND50 billion will have to pay VND50 million to get the license.

The circular will take effect 45 days after signing.