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Ministry proposes service fees for securities sector
The Ministry of Finance (MoF) is currently gathering feedback on a draft circular that outlines service fees in the securities industry.
A securities app shows stock information on a smartphone. — Photo baotintuc.vn
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This guidance will apply to the Việt Nam Stock Exchange, its subsidiaries and the Việt Nam Securities Depository and Clearing Corporation (VDSC).
The service fees specified in this circular are exempt from value-added tax as per the Value-Added Tax Law and any applicable amendments.
For services not priced by the MoF, the Việt Nam Stock Exchange and VSDC are empowered to set their own prices and are fully responsible for ensuring that these fees reflect the actual provision of services, in compliance with pricing regulations, securities law and other relevant legislation.
The Việt Nam Stock Exchange and VSDC are required to publicly list and disclose their prices, following all applicable laws regarding pricing and securities, as well as relevant guidelines.
By March 31 each year, the Việt Nam Stock Exchange, the Hà Nội Stock Exchange, the Hồ Chí Minh Stock Exchange and the VDSC must report the previous year’s business performance in securities services to the MoF's State Securities Commission and Department of Price Management.
The State Securities Commission (SSC) will review these reports and may request additional information as needed.
If fluctuations in price-forming factors or market prices impact operations, these entities must create a pricing plan and submit it to the SSC for assessment and further recommendations to the Department of Price Management for necessary adjustments.
Service fees for listing management
The draft circular stipulates that service fees for managing the listing of stocks, corporate bonds, investment fund certificates and debt instruments as outlined in the Public Debt Management Law will be calculated using the following formula: service fee = (Price/12 months) * the duration of the service fee calculation period (months).
Pricing would be determined by the MoF and adjusted for each period. When an organisation lists multiple securities on the same stock exchange, the fee will be calculated individually for each ticker symbol.
For listed securities, if they remain listed and are not delisted during the year, the service fee calculation period will last for 12 months, starting from January 1 of that year.
In the case of first-time listings, if an organisation registers and is not delisted within the year, the service fee for the first year will be calculated from the month following the stock exchange’s approval until the end of December of that year.
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