On April 28, 2022, the Ministry of Finance issued Circular No. 25/2022/TT-BTC stipulating the collection rate, mode of collection, payment, management, and use of several fees in the securities sector (“Circular 25”), replacing Circular No. 272/2016/TT-BTC dated 14/11/2016.

Accordingly, some main contents are amended and supplemented as follows:
(1) Adjusting the provisions on fees for licensing the establishment and operation of companies in the securities sector to be in sync with the Securities Law 2019 and Decrees detailing the Law. Specifically:
– On November 26, 2019, the National Assembly passed the Law on Securities No. 54/2019/QH14 (replacing the Law on Securities in 2006) and took effect from January 1, 2021.
– Then, on December 31, 2020, the Government issued Decree No. 155/2020/ND-CP detailing the implementation of several articles of the Law on Securities, Decree No. 158/2020/ND-CP on derivative securities and derivatives market.
Some highlights of the new regulations:
* Regulations on several new types of securities (derivative securities, covered warrants);
* Amendment of some licenses and certificates of securities activities compared to the previous regulations).
(2) Reduce by more than 90% the management fee of unlisted and unregistered public companies. Accordingly, the fee is collected and paid once at the time the company is certified by the Securities Commission to complete the registration of a public company with a fee of VND 830,000.

Circular 25 takes effect from July 1, 2022.

* This newsletter is only for informational purposes about newly issued legal regulations, not used to advise or apply to specific cases.

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