Decision No. 96/2005/QD-BTC stipulates the functions, tasks, powers, and organizational structure of the Securities Market Inspectorate under the State Securities Commission.

Pursuant to …;

Regulations on functions, tasks, powers, and organizational structure of the Securities Market Inspectorate

of the State Securities Commission

THE MINISTER OF FINANCE

Considering the proposal of the Head of the Cadre and Civil Service Department,

Pursuant to Decree No. 77/2003/NĐ-CP dated July 1, 2003 of the Government stipulating the functions, tasks, powers, and organizational structure of the Ministry of Finance;

Pursuant to Decree No. 81/2005/NĐ-CP dated June 22, 2005 of the Government on the organization and operation of the Financial Inspection;

Upon the proposal of the Director of the Cadre and Civil Servant Affairs Department, the Chairman of the State Securities Commission, and the Chief Inspector of the Ministry of Finance,

DECISION:

Article 1. The Securities Market Inspectorate of the State Securities Commission (hereinafter referred to as the Securities Inspectorate) is an entity under the Financial Inspection system, an organization within the State Securities Commission that performs administrative inspection and specialized inspection functions within the scope of state management of the State Securities Commission as assigned by the Minister of Finance.

The Securities Inspectorate is directly managed and directed by the Chairman of the State Securities Commission and guided in inspection work by the Inspectorate of the Ministry of Finance.

The Securities Inspectorate has its own seal and is allowed to open an account at the National Treasury in accordance with the provisions of the law.

Article 2. The Securities Inspectorate has the following tasks and powers:

1. Participating in drafting legal regulations on securities and the securities market; taking the lead or participating in drafting related documents concerning the organization and operation of the Securities Inspectorate as assigned by the Chairman of the State Securities Commission.

2. Inspecting the implementation of policies, laws, and tasks by agencies, organizations, and individuals directly managed by the Chairman of the State Securities Commission.

3. Inspecting domestic and foreign organizations and individuals in Vietnam regarding their compliance with laws on securities and the securities market and international treaties to which Vietnam is a party and which relate to securities and the securities market.

4. Identifying and deciding on administrative penalties for violations of laws on securities and the securities market within its authority or recommending higher authorities to impose such penalties according to the law.

5. Monitoring, inspecting, and urging the implementation of conclusions, recommendations, and decisions made by the Securities Inspectorate.

6. Recommending or submitting to competent authorities for improvement of policies and laws on securities and the securities market; suspending or revoking regulations found to be contrary to the law through inspection activities.

7. Assisting the Chairman of the State Securities Commission in organizing citizen reception, handling complaints and reports; anti-corruption work, thrift, and waste prevention in accordance with the law.

8. Cooperating with financial inspection agencies under the Financial Inspection system, inspection agencies of ministries, central agencies, and localities, and relevant agencies during the inspection and supervision process in the field of securities and the securities market; working with relevant agencies to prevent, stop, and combat illegal acts within the scope of assigned tasks and powers.

9. Summarizing and reporting the results of inspection work, complaint and report resolution, anti-corruption efforts, thrift, and waste prevention within the responsibility of the State Securities Commission.

10. Summarizing experiences and inspection practices within the management scope of the State Securities Commission.

11. Performing other tasks assigned by the Chairman of the State Securities Commission.

Article 3. The Securities Inspectorate consists of a Chief Inspector, several Deputy Chief Inspectors, and inspectors; the Chief Inspector is responsible for directing all activities of the Securities Inspectorate; Deputy Chief Inspectors are accountable to the Chief Inspector for the tasks they are assigned.

The appointment, dismissal, or removal of the Chief Inspector of the Securities Inspectorate is carried out by the Minister of Finance upon the recommendation of the Chairman of the State Securities Commission and the Director of the Cadre and Civil Servant Affairs Department, after consulting with the Chief Inspector of the Ministry of Finance.

The appointment, dismissal, or removal of Deputy Chief Inspectors is decided by the Chairman of the State Securities Commission according to the classification of civil servant management.

The appointment, dismissal of inspectors is carried out in accordance with the provisions of the law.

Article 4. Tasks, powers of the Chief Inspector of the Securities Inspectorate

1. Leading and directing inspection work within the functions, tasks, and powers of the State Securities Commission.

2. Submitting to the Chairman of the State Securities Commission the inspection program and plan and organizing its implementation after approval.

3. Submitting to the Chairman of the State Securities Commission for decision to conduct inspections when signs of violation of laws on securities and the securities market are discovered.

4. Submitting to the Chairman of the State Securities Commission for decision or deciding within his authority the establishment of inspection teams, dispatching inspectors, and summoning inspection collaborators in accordance with the law.

5. Recommending the Chairman of the State Securities Commission to temporarily suspend the execution of decisions made by organizations and individuals directly managed by the State Securities Commission if there is evidence that these decisions are contrary to the law or affect the inspection process.

6. Recommending the Chairman of the State Securities Commission to consider responsibility and handle persons who violate laws within the management authority of the Chairman of the State Securities Commission.

7. Imposing administrative penalties for violations in the field of securities and the securities market according to the law.

8. Reporting to the Chief Inspector of the Financial Inspection of the Ministry of Finance on inspection work within the prescribed responsibilities and powers.

9. Perform other tasks and exercise other powers as prescribed by law.

Article 5. Inspectors of the Securities Inspectorate are civil servants appointed to inspection positions to perform inspection tasks within the functions, tasks, and powers of the State Securities Commission.

The tasks, powers, responsibilities, and benefits of inspectors are implemented in accordance with the law.

Article 6. The Securities Inspectorate organizes the implementation of tasks under a specialist system; the Chief Inspector is responsible for organizing work and assigning tasks to civil servants in accordance with the standards of inspector positions and their professional capabilities, ensuring the completion of assigned tasks.

Article 7. This Decision shall take effect fifteen days from the date of publication in the Official Gazette; it abolishes previous regulations on the functions, tasks, powers, and organizational structure of the Securities Inspectorate. The Chairman of the State Securities Commission, the Head of the Cadre and Civil Servant Department, the Inspector General of the Ministry, the heads of related organizations and units, and the Director of the Ministry of Finance’s Office shall be responsible for implementing this Decision./.