Being securities firm having brokerage business, fund management company, custodian Bank, insurance company, commercial bank. In case of commercial bank and insurance company, it is required to conduct procedures to register with SSC for distributing fund certificates as prescribed in Circular 183/TT-BTC.
Being legally business place of distribution agent as stipulated by the Enterprise Law, including head office, branches, transaction offices, representative offices;
Having at least two (02) staffs who have securities brokerage certificate, or have passed an examination for brokerage certificate held by the SSC, or being legitimate securities practitioners in foreign countries with certificate on legal framework on securities and securities market of Vietnam;
Having adequate facilities and necessary technical platforms for distribution of open-ended fund certificates as follows:
- Having office equipment and computer system supporting the distribution of fund certificates and management of investor database. This system shall ensure the database and information of investors are stored and maintained separately and not shared with other divisions;
- Having safe boxes to maintain and store documents, materials, transaction orders/instructions of investor;
- Having back up system to ensure that the receipt and transmission of orders is maintained smoothly in case of incidents.
- Process of fund Certificate transactions (including: opening account process; KYC; filing process)
- Code of conducts applied to staff who deal with fund certificate distribution.
- Internal rules on prevention of late trading and arbitrage activities based on taking advantage of time differences, marketing timing.