Stock brokerage floor fee at 0.15pct from May 1

The Ministry of Finance (MoF) has recently issued a Circular No 38/2011/TT-BTC regulating the collection, management and the use of fees from stock operations.



The Circular will come into effect from May 1, 2011.



Accordingly, the brokerage fee for stock purchase and sale (including shares being traded on UPCoM floor) at securities companies will be from 0.15 percent and 0.5 percent of the transaction value for shares and fund certificates and it will be 0.02-0.1 percent of the trading value for bonds.



Previously, the fee for brokerage service (or commission for brokerage service) for stock purchase and sale of both shares and fund certificate was no more than 0.5 percent of the trading value and no exceeding 0.15 percent of the trading value for bonds.



In comparison to the previous regulation, the MoF’s Circular No 38 has created an amplitude for the stock transactions fee. Earlier, the Circular No 01 and 02 only regulated the maximum level for the transaction fee.



The Circular No 38 also regulated the issuing underwriting fee for securities brokers and banks at 0.5-2 percent of the total underwriting value for stock.



Fund management companies are allowed to collect maximum 2 percent of the total average consignment value/year for investment portfolio management fee and maximum 2 percent of the net asset value (NAV) or the NAV of the portfolio for the investment fund management fee.

Tags: Vietnam business

Posted by VBN on Mar 22 2011. Filed under Enterprises. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry