Decree No. 90/2003/ND-CP on the functions, tasks, powers, and organizational structure of the State Securities Commission

DECREE

Regulations on functions, tasks, powers, and organizational structure

of the State Securities Commission

THE GOVERNMENT

Pursuant to the Law on Organization of the Government dated December 25, 2001;
Pursuant to Decree No. 30/2003/NĐ-CP dated April 1, 2003 of the Government stipulating the functions, tasks, powers, and organizational structure of agencies under the Government;
Pursuant to the proposal of the Chairman of the State Securities Commission and the Minister of Home Affairs,

DECREE

Article 1. Position and Functions

The State Securities Commission is an agency under the Government responsible for performing certain tasks and authorities in managing state affairs regarding securities and the securities market; managing public services within the securities and securities market sector as prescribed by law.

Article 2. Tasks and Powers

The State Securities Commission shall be responsible for performing the tasks and authorities of an agency under the Government managing state affairs in the sectors and fields as stipulated in Decree No. 30/2003/NĐ-CP dated April 1, 2003 of the Government on the functions, tasks, authorities, and organizational structure of agencies under the Government, and the following specific tasks and authorities:

1. Submit to the Government, the Prime Minister, or the Minister assigned by the Prime Minister to sign normative legal documents on securities and the securities market, and organize the implementation of such documents;

2. Submit to the Government, the Prime Minister strategic plans, planning, long-term programs, five-year plans, annual plans, and important projects of the State Securities Commission; organize the implementation of these plans after approval;

3. Issue, guide, inspect, and organize the implementation of standards, procedures, professional norms, and economic-technical quotas applicable in subordinate organizations according to laws on securities and the securities market;

4. Grant, extend, suspend, or revoke licenses for issuance, listing, trading, and securities services, and securities business operations as prescribed by law;

5. Propose the Prime Minister to decide on establishing, suspending operations, or dissolving the Stock Exchange Center, Securities Trading Center, organized securities trading markets;

6. Organize and manage the Stock Exchange Center, Securities Trading Center, organized securities trading markets, central depositories, registration centers, and securities settlement systems;

7. Manage activities related to the securities market of issuers, listed companies, securities trading firms, and auxiliary organizations as prescribed by law;

8. Inspect, examine, and supervise entities participating in activities on the securities market and handle violations concerning securities and the securities market as prescribed by law;

9. Manage investment and construction projects within its jurisdiction as prescribed by law; participate in appraising important projects in the securities and securities market sector upon request of the Government and the Prime Minister;

10. Guide and facilitate securities associations in implementing their purposes, principles, and operational regulations; inspect compliance with state regulations, handle or recommend competent state agencies to handle violations of securities associations as prescribed by law;

11. Organize scientific research on securities and the securities market; train specialized knowledge and skills for staff of the State Securities Commission and subordinate units, securities traders, and other participants in the securities market;

12. Organize information dissemination, propaganda, and popularization of knowledge about securities and the securities market for organizations and the general public;

13. Implement international cooperation in the securities and securities market sector as prescribed by law;

14. Decide and direct the implementation of the administrative reform program of the State Securities Commission according to the goals and content of the national administrative reform program approved by the Prime Minister;

15. Manage organizational structures and staffing; direct the implementation of salary systems and incentive policies, rewards, and disciplinary measures for officials, civil servants, and employees under its management;

16. Manage finances, assets entrusted, and implement budgets allocated according to the law;

17. Implement reporting requirements to the Government, the Prime Minister, and competent state agencies as prescribed by law.

Article 3. Organizational Structure of the State Securities Commission

a) Organizations assisting the Chairman in performing tasks and authorities:

1. Market Development Department;

2. Issuance Management Department;

3. Trading Management Department;

4. Department of International Cooperation;

5. Organization and Cadre Department;

6. Planning and Finance Department;

7. Department of Legal Affairs;

8. Inspectorate;

9. Office (with representation in Ho Chi Minh City).

b) Scientific and Service Organizations under the Commission:

1. Hanoi Stock Exchange Center;

2. Ho Chi Minh City Stock Exchange Center;

3. Computing Center;

4. Securities Science Research and Training Center;

5. Securities Magazine.

Article 4. Leadership of the State Securities Commission

The leadership of the State Securities Commission includes:

1. Chairperson, Vice-Chairpersons;

2. Members concurrently holding Deputy Minister positions at the Ministry of Finance, Ministry of Justice, Ministry of Planning and Investment, and the State Bank of Vietnam.

The Chairperson and Vice-Chairpersons of the State Securities Commission are appointed, relieved of duty, or dismissed by the Prime Minister; members concurrently holding Deputy Minister positions are decided by the Prime Minister.

Members concurrently holding Deputy Minister positions work according to the Operational Regulations of the State Securities Commission.

Article 5. Effectiveness

This Decree takes effect 15 days from the date of publication in the Official Gazette and replaces Decree No. 75/CP dated November 28, 1996 of the Government on the establishment of the State Securities Commission and previous conflicting legal provisions.

Article 6. Responsibility for Implementation

The Chairperson of the State Securities Commission, Ministers, Heads of Ministries equivalent to Ministries, Heads of agencies under the Government, and Chairpersons of provincial People's Committees directly under the Central Government are responsible for enforcing this Decree.