The Australian Securities and Investment Commission (ASIC)
and the State Securities Commission (SSC) of Viet Nam signed their first
Memorandum of Understanding (MoU ) in Sydney on 2 August 2024. This MoU aims to
support information sharing under a formalised capacity-building program funded
by the Department of Foreign Affairs and Trade (DFAT).
The MoU was signed by ASIC Chair Joe Longo and SSC
Chairwoman Madam Vu Thi Chan Phuong, with senior Vietnamese government
officials present as witnesses.
ASIC and SSC Partnership
The agreement outlines a commitment from both ASIC and SSC
to enhance dialogue and technical cooperation. The program, funded by DFAT
through the Mekong Australia Partnership (MAP), focuses on improving Vietnam’s
regulatory system and capital market resilience.
It includes strengthening
technical cooperation, sharing information, and addressing mutual interests to
ensure fair, orderly, and transparent markets.
SSC Chairwoman Madam Vu Thi Chan Phuong noted that the MoU
reflects a positive and collaborative relationship between the two agencies,
aiming to support the development of securities markets and overall prosperity
in both Vietnam and Australia.
Meanwhile, ASIC
has reminded Australian Financial Services (AFS) licensees about new
notification requirements for the experienced provider pathway, effective July
1, 2024, as reported by Finance
Magantes. Licensees must notify ASIC within 30 business days upon receiving
a declaration from a qualified financial adviser.
This pathway allows experienced advisers to meet standards
without extra education. For declarations received before July 1, the 30-day
countdown starts on that date. Notifications should be submitted via ASIC
Connect. The Financial Advisers Register will not show pathway usage.
MoU Signing Event Summary
The event was attended by Vietnamese Consul-General Nguyen
Dang Thang, along with other senior representatives from the Vietnamese
government and DFAT. The MoU signing was followed by a bilateral meeting where
current regulatory issues and future activities under the program were
discussed.
ASIC Chair Joe Longo said: ‘The engagement demonstrates the
strong ties between our countries and our mutual dedication to fostering
cooperation and development of our respective capital markets.’
‘ASIC stands ready to provide technical assistance,
training, and knowledge to enhance Vietnam’s regulatory capabilities and
infrastructure.’
The Australian Securities and Investment Commission (ASIC)
and the State Securities Commission (SSC) of Viet Nam signed their first
Memorandum of Understanding (MoU ) in Sydney on 2 August 2024. This MoU aims to
support information sharing under a formalised capacity-building program funded
by the Department of Foreign Affairs and Trade (DFAT).
The MoU was signed by ASIC Chair Joe Longo and SSC
Chairwoman Madam Vu Thi Chan Phuong, with senior Vietnamese government
officials present as witnesses.
ASIC and SSC Partnership
The agreement outlines a commitment from both ASIC and SSC
to enhance dialogue and technical cooperation. The program, funded by DFAT
through the Mekong Australia Partnership (MAP), focuses on improving Vietnam’s
regulatory system and capital market resilience.
It includes strengthening
technical cooperation, sharing information, and addressing mutual interests to
ensure fair, orderly, and transparent markets.
SSC Chairwoman Madam Vu Thi Chan Phuong noted that the MoU
reflects a positive and collaborative relationship between the two agencies,
aiming to support the development of securities markets and overall prosperity
in both Vietnam and Australia.
Meanwhile, ASIC
has reminded Australian Financial Services (AFS) licensees about new
notification requirements for the experienced provider pathway, effective July
1, 2024, as reported by Finance
Magantes. Licensees must notify ASIC within 30 business days upon receiving
a declaration from a qualified financial adviser.
This pathway allows experienced advisers to meet standards
without extra education. For declarations received before July 1, the 30-day
countdown starts on that date. Notifications should be submitted via ASIC
Connect. The Financial Advisers Register will not show pathway usage.
MoU Signing Event Summary
The event was attended by Vietnamese Consul-General Nguyen
Dang Thang, along with other senior representatives from the Vietnamese
government and DFAT. The MoU signing was followed by a bilateral meeting where
current regulatory issues and future activities under the program were
discussed.
ASIC Chair Joe Longo said: ‘The engagement demonstrates the
strong ties between our countries and our mutual dedication to fostering
cooperation and development of our respective capital markets.’
‘ASIC stands ready to provide technical assistance,
training, and knowledge to enhance Vietnam’s regulatory capabilities and
infrastructure.’
This post is originally published on FINANCEMAGNATES.
