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Pursuant to Article 10 of Circular 102/2025/TT-BTC, the Ministry of Finance prescribes:
“Within 06 months from the effective date of this Circular, securities business organizations must take remedial measures when their capital adequacy ratio falls below 180% due to changes in calculation ratios under this Circular for investments, contracts and agreements arising before this Circular takes effect.”
Thus, the remedial period for securities business organizations (including securities companies and fund management companies) whose capital adequacy ratio falls below 180% due to the new calculation method is six months.
If, after six months from December 15, 2025 (i.e., until the end of June 15, 2026) the securities business organization still fails to maintain a minimum capital adequacy ratio of 180%, the State Securities Commission of Vietnam will apply the handling measures stipulated in Chapter III of Circular 91/2020/TT-BTC, including:
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Requiring the development and implementation of a plan to rectify the financial safety breach;
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Restricting securities business activities;
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Temporarily suspending or revoking the operating license in cases of serious violations.
