Dissolution of the National Financial Supervisory Commission
Specifically, the Prime Minister decided to dissolve the National Financial Supervisory Commission upon the completion of transferring functions, tasks, personnel, finances, and assets to the Ministry of Finance, the State Bank of Vietnam, the Government Inspectorate, and the Government Office.
The transfer and reception of functions, tasks, personnel, finances, and assets shall be implemented according to the Project for the Dissolution of the National Financial Supervisory Commission, which shall be completed before July 1st, 2025.
Pursuant to Plan No. 141/KH-BCĐTKNQ18 dated December 6th, 2024, of the Steering Committee for the Summary of the Implementation of Resolution No. 18-NQ/TW of the Government on the Orientation of Arranging and Streamlining the Government Apparatus, the Prime Minister issued the Project for the Dissolution of the National Financial Supervisory Commission (the Project).
Plan for Transferring Tasks, Personnel, and Assets upon the Dissolution of the National Financial Supervisory Commission
1- Transfer of functions and tasks to the Ministry of Finance and the State Bank of Vietnam
Transfer the following functions and tasks to the Ministry of Finance: general supervision of the financial market in the fields of securities and insurance; coordination of national financial market supervision activities; general supervision of the financial market; consolidated supervision of financial groups in the fields of securities, insurance, and other fields (except banking); advising on and coordinating macroeconomic and financial policies; assessing the interrelationship between the macroeconomy and the financial market; and building a national financial market general supervision database.
Transfer the following functions and tasks to the State Bank of Vietnam: general supervision of the financial market in the field of banking; consolidated supervision of financial groups in the banking field.
2- Transfer of personnel to relevant ministries and agencies
Transfer 51 people (including 38 officials performing the task of general supervision of the financial market in the fields of securities and insurance and 13 officials building a national financial market supervision database) to the Ministry of Finance.
Transfer 25 officials performing the task of general supervision of the financial market in the banking field to the State Bank of Vietnam.
Transfer 04 contracted employees to the Government Inspectorate for arrangement and utilization.
3- Transfer of assets, finances, transaction accounts and seals; and related files and documents of the National Financial Supervisory Commission
Transfer all technology assets related to the financial market supervision information system and assets formed from technical support projects to the Ministry of Finance for reception, management, and use.
Transfer 04 cars in use to the Government Inspectorate for reception, management, and use; transfer 01 car that is degraded and unusable to the Government Office to carry out scrapping procedures in accordance with regulations.
Transfer working equipment (associated with the transferred personnel) to the Ministry of Finance and the State Bank of Vietnam; transfer the remaining assets to the Government Office.
Regarding the files and documents that have been resolved, the National Financial Supervisory Commission shall submit them to the National Archives for management, ensuring the principle of centralized and unified archives of the National Financial Supervisory Commission, without dispersion according to regulations.
For unresolved files and documents, the National Financial Supervisory Commission shall transfer them to the Ministry of Finance and the State Bank of Vietnam to continue monitoring, resolving, and handling matters within the functions and tasks of the National Financial Supervisory Commission.
For personnel-related files and documents: transfer the files and documents related to personnel performing the task of general supervision of the financial market in the fields of securities and insurance to the Ministry of Finance for management; transfer the files and documents related to personnel performing the task of general supervision of the financial market in the banking field to the State Bank of Vietnam for management; transfer the files and documents related to cars and contracted employees to the Government Inspectorate for management.
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