Decision No. 63/2007/QD-TTg On the functions, tasks, powers, and organizational structure of the State Securities Commission under the Ministry of Finance

Pursuant to …;

Regarding the provision of functions, tasks, powers, and organizational structure

of the State Securities Commission under the Ministry of Finance

_____________________

PRIME MINISTER

Pursuant to the Law on Organization of the Government dated December 25, 2001;

Pursuant to the Securities Law dated June 29, 2006;

Pursuant to Decree No. 86/2002/NĐ-CP dated November 5, 2002 of the Government stipulating the functions, tasks, powers, and organizational structure of Ministries and ministerial-level agencies;

Pursuant to Decree No. 66/2004/NĐ-CP dated February 19, 2004 of the Government on the transfer of the State Securities Commission to the Ministry of Finance;

Considering the proposal of the Minister of Finance,

DECISION:

Article 1. Position and Functions

1. The State Securities Commission is an organization under the Ministry of Finance, responsible for assisting the Minister of Finance in performing state management functions over securities and the securities market; directly managing and supervising securities activities and the securities market; managing service activities within the securities and securities market sector in accordance with the law.

2. The State Securities Commission has legal personality, uses a seal bearing the national emblem; opens accounts at the National Treasury in accordance with the law; its main office is located in Hanoi; its trading name in English is: State Securities Commission of Vietnam (abbreviated as SSC).

b) Draft five-year and annual socio-economic development plans for the province; major economic and social balances for the province; draft five-year and annual plans, programs, projects, measures to organize and implement tasks related to socio-economic development, finance-budget, planning-investment, and other tasks within the scope of state management of the Department of Finance as prescribed by law;

The State Securities Commission performs tasks and powers as prescribed by the Securities Law and the following specific tasks and powers:

1. Proposing the Minister of Finance to issue regulations on securities and the securities market within his authority or submitting them to the Minister of Finance for submission to competent authorities for issuance; strategies, plans, policies, long-term, medium-term, and annual development plans regarding securities and the securities market.

2. Implementing strategies, plans, and development policies for the securities market after they have been issued.

3. Directing the procedures and practices related to securities and the securities market and forms according to the law and the Minister of Finance's instructions.

4. Issuing, renewing, suspending, and revoking licenses and certificates related to securities activities and the securities market; approving changes related to securities activities and the securities market.

5. Managing and supervising the operations of Stock Exchanges, Securities Trading Centers, Securities Depository Centers, and auxiliary organizations; temporarily suspending trading and deposit activities of Stock Exchanges, Securities Trading Centers, and Securities Depository Centers if there are signs affecting investors' legitimate rights and interests.

6. Inspecting, supervising, imposing administrative penalties, and resolving complaints and reports in securities activities and the securities market.

7. Conducting statistical work and forecasting on securities activities and the securities market; organizing the management and application of information technology; modernizing activities in the securities and securities market sector.

8. Organizing scientific research; providing information and propaganda on securities and the securities market; organizing and coordinating with relevant agencies and organizations to train and develop staff managing securities and securities professionals; popularizing knowledge about securities and the securities market among the public.

9. Implementing international cooperation in the securities and securities market sector in accordance with the law.

10. Guiding and facilitating securities associations in implementing their purposes, principles, and operational charters; inspecting compliance with state regulations, handling or recommending competent state authorities to handle violations of law by securities associations in accordance with the law and the division of responsibilities assigned by the Minister of Finance.

11. Implementing reporting systems on securities and the securities market in accordance with the law and the division of management by the Minister of Finance.

12. Implementing administrative reform in accordance with the objectives and content of the State Securities Commission's administrative reform program approved by the Minister of Finance.

13. Managing the organizational structure, staffing, cadres, civil servants, and implementing systems and policies for cadres, civil servants, and employees of the State Securities Commission in accordance with the law and the division of management by the Minister of Finance.

The State Securities Commission establishes special mechanisms for recruitment, utilization, and management of cadres, civil servants, and employees working in the securities sector, to be submitted to competent authorities for issuance.

14. Managing state budget funds and other sources of funding, assets allocated in accordance with the law; using revenues from specialized and professional activities in the securities and securities market sector to serve professional work and implement personnel recruitment and incentive policies for experts, cadres, civil servants, and employees in accordance with financial management regulations set by the Ministry of Finance.

15. Performing other tasks assigned by the Minister of Finance.

đ) Based on the regulations on the delegation of organizational and cadre management, the Director of the Department decides or submits to the competent authority for decisions regarding the appointment and dismissal of heads and deputy heads of units under the Department according to the position standards set by the provincial people's committee;

1. The leadership of the State Securities Commission consists of the Chairman and Deputy Chairmen.

The Chairman of the State Securities Commission is appointed and relieved of duty by the Prime Minister upon the proposal of the Minister of Finance, and is accountable to the Minister of Finance for all activities of the State Securities Commission.

The Deputy Chairmen of the State Securities Commission are appointed and relieved of duty by the Minister of Finance upon the proposal of the Chairman of the State Securities Commission, and are accountable to the Chairman of the State Securities Commission for the areas of work assigned to them.

2. Administrative and service organizations:

a) Administrative organizations:

- Market Development Department;

- Securities Issuance Management Department;

- Securities Business Management Department;

- Fund Management Companies and Investment Funds Management Department;

- Market Supervision Department;

- Legal Affairs Department;

- Inspection Department;

- International Cooperation Department;

- Cadre Organization Department;

- Planning and Finance Department;

- Office;

- Ho Chi Minh City Representative Office of the State Securities Commission.

b) Affiliated service organizations:

- Securities Science Research and Training Center;

- Information Technology and Statistics Center;

- Securities Magazine.

c) The public service organizations will be transformed:

 - Securities Depository Center;

- Hanoi Stock Exchange Center;

- Ho Chi Minh City Stock Exchange Center.

The Securities Depository Center and the Stock Exchange Centers shall continue to operate under the current public service unit model with income attached to the State Securities Commission as prescribed by securities laws until they are restructured according to the organizational model and operational methods stipulated in the Securities Law.

The provisions regarding functions, tasks, powers, and organizational structure of units and organizations under the State Securities Commission shall be implemented in accordance with the regulations of the Minister of Finance.

3. The staffing of officials, civil servants, and public servants of the State Securities Commission shall be decided by the Minister of Finance within the total staffing quota of the Ministry of Finance.

Article 4. Effective date

This Decision takes effect fifteen days from the date of publication in the Official Gazette and replaces Decision No. 161/2004/QĐ-TTg dated September 7, 2004 of the Prime Minister on the functions, tasks, powers, and organizational structure of the State Securities Commission.

Article 5. Responsibilities for Implementation

The Ministers, Heads of ministerial-level agencies, Heads of government-affiliated agencies, Chairpersons of provincial and centrally governed city People's Committees, and the Chairman of the State Securities Commission are responsible for implementing this Decision./.