Vietnam State Securities Commission publishes draft circular to replace securities practitioner rules with electronic licences and mandatory annual training

The Vietnam State Securities Commission has outlined key provisions of a draft circular intended to replace the Ministry of Finance’s 2015 rules on securities practitioners, with a focus on digitalising licensing, recognising certain international qualifications and setting a continuing professional training requirement. The draft covers three areas: securities professional certificates and equivalent certifications, the introduction of an electronic securities practising certificate, and annual knowledge training for practitioners. It would allow the Certified International Investment Analyst (CIIA) and Chartered Financial Analyst (CFA) Level II or higher to be treated as equivalent to Vietnam’s fund and asset management certificate and its derivatives securities and derivatives market certificate. The Commission would begin issuing electronic practising certificates once its IT system for managing practitioners becomes operational, after which paper certificates would no longer be issued; individuals and organisations would also be able to check a practitioner’s licensing status. For annual knowledge training, the draft would require at least eight hours per year, with the Commission to develop a training framework before 31 December each year and training institutions to prepare training materials, with delivery oriented toward online formats. The training requirement would start on 1 July 2026, and the Commission would publish the list of practitioners who do not meet the annual training obligation on its website and practitioner management system.