The Ministry of Finance is taking comments from the people with the draft Circular stipulating the level of collection, mode of collection, payment, management, and use of fees in the field of securities, replacing circular No. 272/2016/TT-BTC (November 14, 2016, of the Ministry of Finance). A draft additional collection of supervision fees for derivative securities and warrants; supplementing regulations on collection of fees for supervision of securities activities for payment banks.
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The Ministry of Finance said that on November 26, 2019, the National Assembly passed the Securities Law 54/2019/QH14 (replacing the Securities Law 2006) and took effect from January 1, 2021. The Government has issued Decree No. 155/2020/ND-CP detailing the implementation of some articles of the Law on Securities, Decree No. 158/2020/ND-CP on derivative securities and the derivative securities market. In particular, it stipulates some new types of securities (derivative securities, secured warrants); amend some licenses and certificates of securities activities compared to the previous regulations.
According to the law on fees, the Ministry of Finance drafted a Circular to replace Circular No. 272/2016/TT-BTC stipulating the level of collection, mode of collection, payment, management, and use of fees in the field of securities.
The draft additional collection of supervision fees for derivative securities and warrants. The level of revenue is based on the principle: Similar to the calculation and the level of monitoring fees from trading activities on the underlying stock market; the revenue level ensures the management and supervision of the derivatives market of the Securities Commission, at the same time, creating incentives for the derivatives market to develop. On that basis, the fee rates in the draft Circular stipulate:
Derivative securities supervision fee for Vietnam Securities Depository (VSD): 10% of clearing service price revenue and margin asset management service price (corresponding to the method of calculating the supervision fee of the underlying securities market for VSD).
Derivative securities monitoring fee for the Stock Exchange: 10% of the revenue of the price of derivative securities trading services.
The guaranteed warrant monitoring fee is 0.009% of the transaction value (equal to the supervisory fee for the stock).
At the same time, the draft Circular supplementing the provisions on the collection of fees for supervision of securities activities for payment banks as follows: For stocks, fund certificates secured warrants: 0.001% of the net clearing value of securities transactions of the payment bank.
For corporate bonds: 0.0001% of the net clearing value of securities transactions of the payment bank.
Regarding fee management and use, based on reviewing and evaluating the situation of revenue and expenditure, management and use of toll sources, and the implementation of the financial mechanism in the past period, the draft Circular stipulates Adjustment to reduce the leave rate from 95% to 70% and the rate of payment to the state budget to increase from 5% to 30%. This ratio has been calculated to ensure autonomous spending for the activities of the Securities Commission.
Collected from the source
Minh Thu