THE PRIME MINISTER OF GOVERNMENT
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SOCIALIST REPUBLIC OF VIET NAM
Independence - Freedom - Happiness
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No.
34/2008/QD-TTg
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Hanoi, March 03, 2008
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DECISION
ON THE ESTABLISHMENT OF THE NATIONAL
FINANCIAL SUPERVISION COMMITTEE
THE PRIME MINISTER
Pursuant to the December 25, 2001 Law on Organization of the
Government,
Pursuant to the Government’s Resolution No. 03/2007/NQ-CP dated January 19,
2007;
At the proposal of the Minister of Home Affairs,
DECIDES:
Article 1. -
Establishment, role and functions of the National Financial Supervision
Committee
1. To set up the National
Financial Supervision Committee.
2. The National Financial
Supervision Committee has the functions of advising the Prime Minister on
coordinating the supervision of the national financial market (banking,
securities and insurance), and assisting the Prime Minister in generally
overseeing the national financial market.
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Article 2.- Tasks and
powers of the Committee
1. To propose to the Prime
Minister the promulgation of regulations concerning the coordination of
national financial market (banking, securities and insurance) supervision
activities.
2. To coordinate with relevant
ministries and branches in submitting strategies and orientations for the
development of the financial market to the Prime Minister; to propose to state
agencies mechanisms of supervision and the application of international
practices and standards on supervision of the financial market.
3. To coordinate specialized
supervision activities; to generally oversee the financial market and the
observance of international practices and standards on supervision activities
by specialized inspection and supervision agencies in banking, securities and
insurance domains.
4. To supervise licensing
conditions of credit institutions and non-banking credit institutions operating
in banking, securities and insurance domains.
5. To analyze, forecast and warn
of the security rate of the finance-banking system and the risks of the
national financial market; to establish a database, synthesize, process and
supply information on the national financial market for report to the Prime
Minister.
6. To propose specialized
inspection and supervision agencies and competent authorities to handle
violations of organizations and individuals that fail to observe or to fully
observe conditions of banking, insurance and securities activities.
7. To request the Ministry of
Finance, the State Bank of Vietnam and organizations operating in banking,
securities and insurance domains to provide regular or irregular financial and
banking information; to mobilize officials of ministries and branches, if
necessary, in order to perform the assigned supervision functions and tasks.
8. To Perform other tasks
assigned by the Prime Minister.
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1. The Committee has a president
and two vice presidents.
The Committee’s president shall
be appointed and replaced by the Prime Minister.
The Committee's vice-presidents
shall be appointed and replaced by the Prime Minister at the proposal of the
president.
2. Assisting apparatus of the
Committee:
a/ The Office;
b/ The Supervisory Policy
Research and Coordination Board;
c/ The General Supervision
Board;
d/ The Board for Supervision of
Financial Groups;
e/ The National Financial
Supervision Information Center.
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Article 4.
- This Decision takes effect 15
days after its publication in ''CONG BAO.''
Article 5.
- Ministers, heads of
ministerial-level agencies, heads of government-attached agencies, presidents
of provincial/municipal People's Committees and the president of the National
Financial Supervision Committee shall implement this Decision.
PRIME
MINISTER
Nguyen Tan Dung