The conditions for establishing a domestic transaction office of a securities company are specified in Article 191, Decree No. 155/2020/ND-CP dated December 31, 2020, of the Government detailing the implementation of some articles of the Securities Law.
Article 191. Conditions for a securities company to establish a domestic transaction office
1. Satisfying the conditions specified at points a, b, and c, clause 2, Article 190 of this Decree.
2. At least 02 securities practitioners are working at the transaction office to be set up.
3. Having the head office and equipment for the operation of the transaction office located within the province or centrally-run city where the securities company has its head office or branch.
4. Operations of the transaction office only include supporting operations of securities brokerage, securities investment consulting, and securities depository for the head office or branch where the transaction office depends.
Accordingly, a securities company must meet the following conditions: Maintain current business licensing conditions for the head office and current branches and transaction offices (if any); Not being in a state of warning, control, special control, or suspension of operations following the law; Has not been sanctioned for administrative violations in the field of securities and the securities market for 06 months by the time the State Securities Commission receives the application file.
Besides, there must be at least 02 securities practitioners working at the transaction office to be established. Having the head office and equipment for the operation of the transaction office located within the province or city directly under the central government where the securities company's head office or branch is located.
Article 191, Decree No. 155/2020/ND-CP also stipulates that the transaction office's activities only include supporting activities of securities brokerage, securities investment consulting, and securities depository for the head office or branch where the transaction office is dependent.
Collected from source