Decree 88/2014/nd-Cp: Regulations On Credit Rating Service

Original Language Title: Nghị định 88/2014/NĐ-CP: Quy định về dịch vụ xếp hạng tín nhiệm

Subscribe to a Global-Regulation Premium Membership Today!

Key Benefits:

Subscribe Now for only USD$20 per month, or Get a Day Pass for only USD$4.99.
The DECREE regulates credit rating services _ _ _ _ _ _ _ _ _ _ _ _ based on Government Organization Law of 25 December 2001;
Pursuant to the law of business on November 29, 2005;
Pursuant to the law of securities on July 12, 2006, and the law on amendments and supplements to some articles of the law on securities on November 14, 2010;
According to the recommendation of the Minister of finance, the Government issued the decree regulating the credit rating service.
Chapter I GENERAL PROVISIONS article 1. Scope 1. This Decree regulates the service rank; conditions of operation of the business credit ratings are established and operating in Vietnam.
2. This Decree does not adjust the following activities: a) rank country;
b) rated by the State Bank of Vietnam for credit institutions;
c) credit ratings of credit information center in the State Bank of Vietnam;
d) internal credit ratings of credit institutions, branches of foreign banks.
Article 2. Application object 1. Corporate credit ratings to be issued a certificate of eligibility of business under the provisions of this Decree.
2. Business, the Organization was rank.
3. organizations and individuals related to operating rank.
Article 3. The service rank 1. Credit ratings for business organizations;
2. credit ratings for debt instruments.
Article 4. Explain the term In this Decree, the terms below are interpreted as follows: 1. "the report results rank": Is the report announced the results rank on the Organization was rank.
2. "degrees of rank": is the ability to rank the full implementation, timely debt obligations of the Organization was rank.
3. the "debt": Is the financial products establish obligations including debt: bonds, bank loans and other financial products have incurred another debt obligation.
4. "expert analysis": is the people who make these activities: information collection, analysis, assessment, rated on its ability to fulfill its debt obligations on time, the Organization was rank.
5. "credit rating service for business, organized": is the service offered by the credit rating businesses to analyze, review and rank of the ability to perform full, timely debt obligations of the business, the organization.
6. "service credit ratings for the debt instrument": is the service offered by the credit rating businesses to analyze, review and ratings on its ability to fulfill its debt obligations on time, the subject of release for debt instruments at the time rated.
7. "the Organization was rank": Is the business, the Organization rated credit or debt instruments rated trust prescribed in article 3 of this Decree.
8. "certificate of eligibility": Is the shortened name of the certificate of eligible service credit ratings as specified in this Decree.
9. "the contract rank": Is the contract signed between the business credit ratings and the Organization was rank.
10. "the Council rated credit": Expert Council Is due to rank businesses established for each contract rank to determine degrees of rank, update ranks rank ranking results and report.
11. "relevant people": a term prescribed in clause 34 article 6 securities laws, are individuals or organizations that have a relationship with each other in the following cases: a) the father, mother, father, foster mother, wife, husband, child, adopted child, brother, sister of individuals;
b) Organization in which there are individual employee, Director or General Manager, owner on ten percent of the shares in circulation have voting rights;
c) members of the Management Board, supervisory board, Executive Director or General Director, Deputy Director or Deputy Director and other management titles of that organization;
d) whom in relationships with other people directly, indirectly controlling or controlled by that person or that person shared a bear along with the control;
DD) the parent company, subsidiaries;
e) contract relationship in which a person is to represent the other.
12. "real capital contributions": is the total capital that shareholders or members, which have contributed to a current enterprise financial reporting of enterprises at the time of the report.
Article 5. Active principle rank 1. Independence and objectivity.
2. Be honest.
3. Transparency.
4. Compliance with the applicable legal provisions, the provisions of this Decree and the terms stipulated in the contract credit ratings when making credit ratings.
Article 6. Use the service rank 1. The use of credit rating service based on the needs of the Organization and the individual.
2. Results rank is the reference, not the investment recommendations, raising capital for the debt instrument, the financial instrument due to the Organization was rank.
Article 7. The prohibited acts 1. Corrected, erased, forged the documents in the record has been certified eligible business.
2. Corrected, erased, fake certificates of qualified business.
3. Rent, or transfer the certificate of eligible business.
4. Provide service rank when there is no certificate of eligible business under the provisions of this Decree.
5. Require or receive money or to receive any benefits from the Organization was rank in addition to costs of service rank was agreed in the contract signed rank.
6. Use the ranking results and results released the Organization's debt instruments rated credit to make determining costs of service rank.
7. Collusion, hook for the Organization was rank do affect the ranking results.
8. Falsifying results rank.
9. Disclosure of information about the ranking results of confidence when no contract with the rank organisation was rated.
10. Analyst, Council Member rank service providers rank in the event of a conflict of interest as defined in Article 38 of this Decree.
11. The organization was rank made the following behavior: a) hinders analysis accomplish credit rating activities;
b) provide misleading, dishonest information, documents relating to the rank;
c) intimidation, bribes, bribes, collusion with expert analysis, Board members rank or rank business to falsify results rank.
Article 8. Development planning of service rank based on the situation on the financial market development, the Ministry of finance in cooperation with the ministries concerned the Prime Minister consider accepting the development planning of service rank in each period.
Chapter II RANK BUSINESS article 9. Types of businesses rank 1. The following types of businesses are service businesses rank after being issued a certificate of eligibility of business as prescribed in this Decree: a limited liability company);
b) joint stock companies;
c) partnerships.
2. The name of the business trust ratings are in accordance with the provisions of the law on business.
3. The business registration no business rating service credit shall not be allowed to use the term "rank" or other terms with the function as "rank" in the name.
Article 10. Shareholders or members of the business, which is rank 1. The capital contribution established businesses rank made according to the regulations of the corporate law and must ensure the following principles: a) individual organizations have, which owns 5% of the real one (01) corporate credit ratings shall not be had either established or buy , holding stocks or shares of one (1) business rank;
b) organizations, individuals may not use State budget to capital contributed Charter capital established businesses rank.
2. Corporate credit ratings to be issued a certificate of eligibility of business under the provisions of this Decree are not raising capital to established enterprises rank.
Article 11. Capital 1. The level of capital of businesses rank for rank activities is fifteen (15) billion.
2. The level of capital referred to in Paragraph 1 of this article do not include capital levels of the other business areas that business credit rating business is allowed under the provisions of the law.
Article 12. The scope of activities of enterprises rank 1. Credit rating service as specified in this Decree.
2. Services related to credit rating activities, including: a) service information about credit ratings;
b) training and upgrading, update the knowledge relating to the activity rated credit.
3. When providing the service relating to credit rating activities specified in clause 2 of this corporate credit ratings to ensure does not happen the cases of conflict of interests specified in article 38 of this Decree.
4. enterprises rank not be active in the following areas: a) accounting, auditing;
b) include securities brokerage; consultant; underwriting; dealer in securities; management of investment funds; portfolio management; investing in securities;
c) Bank.
Article 13. Rights and obligations of the business rank 1. Business credit ratings have the following rights: a) provide the services specified in article 12 of this Decree;
b) cost of services received from the provision of the services specified in article 12 of this Decree;
c) requires that the Organization be rated supplied documents, necessary information relevant to contract rank.
2. enterprises rank have the following obligations:

a) only offered the service rank when the certification of qualified business and make disclosure of information according to the provisions of article 18 of this Decree;
b) organizing activities to provide services rank must comply with the principles prescribed in article 5 of this Decree;
c) comply with the provisions of this Decree and the regulations of other relevant laws when service providers rank;
d) ensure the salary, the compensation and bonuses for expert analysis, Board members rank depends on the cost of service and rank results by rank contract which the person involved;
DD) is responsible for maintaining the full range of necessary conditions of capital, personnel and activities under the provisions of this Decree and the regulations of the relevant legislation;
e) is responsible before the law, before the Organization was rank on rank results by rank contract was signed.
Article 14. Conditions of certification of eligibility of business 1. Have a certificate of registration issued by the competent authority under the provisions of the law on enterprises meet the requirements regarding the types of business regulations in this Decree.
2. is there a minimum contribution of real capital by capital level stipulated in article 11 of this Decree.
3. Shareholders or members which meet the conditions specified in article 10 of this Decree.
4. The Director General or directors meet the criteria and conditions specified in article 19 of this Decree.
5. Have a minimum of five (5) employees meet the criteria and conditions of the Member rank specified in article 20 of this Decree.
6. Have a minimum of ten (10) workers who meet the criteria and conditions of the analysis prescribed in article 21 of this Decree.
7. Have the business processes meet the prescribed in article 31 of this Decree and the text is committed to making the business processes to be eligible certification business.
8. Have a business plan includes the following basic content: a) the business plan;
b) projected revenue and operational costs;
c) HR planning;
d) expected data sources used.
9. electronic information page of your business.
10. Fit the development planning of service rank as defined in article 8 of this Decree.
Article 15. Recommended records issued a certificate of eligibility of business 1. Application certification of eligibility form business number 1 in the appendix to this Decree.
2. business registration certificate (copies are authenticated by the competent State agency or a print from the portal to national business register).
3. Information about shareholders or members had either: a) the list of shareholders with real capital contribution and the rate of business ownership of each shareholder;
b) documents proving the real capital contribution to meet the conditions specified in article 11 of this Decree and the structure of the shareholders or members, which meet the conditions specified in article 10 of this Decree.
4. The Charter business.
5. Documents that the Director General or directors meet the criteria and conditions specified in article 19 of this Decree, consists of the following basic documents: a) a copy of the labor contract has the endorsement of the competent State agencies;
b) a copy of the diploma, certificate, certificate of professional practice have the endorsement of the competent State agencies demonstrate competence, professional qualifications and work experience;
c) copy criminal record votes are certified by competent State bodies.
6. Documents that a sufficient number of workers to meet the criteria and conditions of Board members rank specified in article 20 of this Decree and expert analysis of the provisions of article 21 of this Decree.
7. the draft business processes meet the prescribed in article 31 of this Decree.
8. the business plans of the enterprise.
9. electronic information page address of your business credit rating.
Article 16. Procedures qualified certification of business 1. Enterprises pay a (01) record to recommend certification of eligible business to the Finance Ministry to check the adequacy and legal records.
2. within ten (10) working days from the date of receiving the application, the Ministry of Finance announced on the adequacy of records, and additional business requirements document (if available) and send five (5) sets of official records to verify.
3. within sixty (60) days from the date of receipt of a valid application, the Ministry of finance, in cooperation with the Ministry of planning and investment, Vietnam's State Bank and the ministries concerned, the appraisal review certification to qualified business. In case of rejection, the Finance Ministry announced in writing for business and stating the reason.
4. Content of the appraisal records according to the conditions specified in article 15 of this Decree.
Article 17. Qualified certificate of business 1. Certificate of eligible business has the following basic content: a) company name rank;
b) head office address, address electronic information page of your business rank;
c) on Certification Of registered enterprises;
d) on Certification Of eligible business;
DD) legal representative of the enterprise;
e) the content and scope of activities.
2. in case of re-issuance or adjust the certificate of eligible business shall specify the number of times the level or the number of times to adjust and use the number of the certificate of eligibility has been issued the first business to business.
Article 18. Disclosure of information the day before the opening of the business functioning credit ratings are published in mass media and electronic information of the business for at least ten (10) working days before the scheduled opening of the business activity services rank the following basic information : 1. Name, address, corporate headquarters credit ratings.
2. electronic information page address of your business credit rating.
3. Certificate of the eligible business.
4. actual capital contributed.
5. in the list, the corresponding capital contribution rate of each Member or shareholder, which owns 5% of the capital contributed by real businesses rank credit.
6. The name of the legal representative of the enterprise credit rating.
7. opening scheduled operating Day rank of business.
Article 19. Standard, the condition of the General Manager or Director of business 1. Has the capacity for civil acts in full as defined in the civil code.
2. Not as public servants under the provisions of law officers, public officials and law officers.
3. From University specialized in economics, finance, banking, accounting, auditing, business administration or statistics.
4. At least ten (10) years working directly in the field specified in paragraph 3 of this article.
5. Legal residency in Vietnam in the current time.
Article 20. Standards, conditions of Board members rank 1. Has the capacity for civil acts in full as defined in the civil code.
2. Not as public servants under the provisions of law officers, public officials and law officers.
3. From University specialized in economics, finance, banking, accounting, auditing, business administration, statistics or specialization in the areas of business of the Organization was rank.
4. Have at least seven (7) years working directly in the field specified in paragraph 3 of this article.
Article 21. Standards, conditions of analysis 1. Has the capacity for civil acts in full as defined in the civil code.
2. Not as public servants under the provisions of law officers, public officials and law officers.
3. From University specialized in economics, finance, banking, accounting, auditing, business administration, statistics or specialization in the areas of business of the Organization was rank.
4. Have at least three (3) years working directly in the field specified in paragraph 3 of this article.
Article 22. Re-issuance of certificates of eligibility of business 1. Certificate of eligible business was level again in the following cases: a) the certificate of eligible business lost or damaged;
b) business rank being divided, split, merge, merge or convert forms of ownership and continue to meet the conditions specified in clause 1 to Clause 7 article 14 of this Protocol.
2. Processes, procedures for re-issuance of certificates of qualified business for cases specified in point a of this paragraph 1: a) records include:-the original certificate of eligibility (except in the case of loss);
-Application for certificate re-issuance of qualified business Prototype number 3 in the appendix to this Decree.
b) within a period of five (5) working days from the date of receiving the application level certificate of eligible business, the Ministry of finance to consider reissuing the certificate of eligible business.
3. Processes, procedures for re-issuance of certificates of qualified business for cases specified in point b of Paragraph 1 of this article: a) records including:-application level certificate of eligibility form business number 1 in the appendix to this Decree;
-The text, documents proving the business continues to meet the conditions specified in clause 1 to Clause 7 article 14 of this Protocol.
b) within a period of fifteen (15) working days from the date of receipt of a valid application, the Ministry of finance appraisal, review of records in order to give back the certificate of eligible business. In case of rejection, the Finance Ministry announced in writing for business and stating the reason.
Article 23. Adjust the certificate of eligibility of business 1. Business credit ratings to recommended procedures to adjust the eligible certificate of business within fifteen (15) working days since the change of certificate content business conditions specified in article 17 of this Decree.
2. proposed adjustment profile certificate of eligibility of business include:

a Single adjustment proposal) certificate of eligibility form business number 4 in the appendix to this Decree, which stated the reason for tuning;
b) the original certificate of eligibility has been issued the business times near you;
c) documents proving the contents suggest adjusting the eligibility certificate business.
3. within ten (10) working days from the date of receipt of a valid application, the Ministry of finance, due diligence review to adjust the eligibility certificate business. In case of rejection, the Finance Ministry announced in writing for business and stating the reason.
Article 24. The changes must be reported to the State agency within ten (10) working days from the date of the change of the following content, corporate credit ratings to notify in writing to the Ministry of finance and the business registration agency: 1. Do not meet one of the conditions specified in article 15 of this Decree;
2. Name, address, headquarters, electronic information page address of your business rank;
3. the legal representative of the enterprise;
4. Dissolution, bankruptcy or termination of the business of credit rating services;
5. Revocation of business registration certificate.
Article 25. Revocation of the certificate of eligibility of business 1. Corporate credit rank certificate revoked business conditions in the following cases: a) does not meet one of the conditions specified in clause 1 to Clause 6 of this Decree, article 14 within six (6) consecutive months;
b) made one of the prohibited acts prescribed in clause 1 to Clause 9 to article 7 of this Decree;
c) dissolved, insolvency or cessation of business services rank;
d) revoked the certificate of business registration.
2. The certificate of eligible business automatically be expired for the cases specified in point c and a d Clause 1 of this article.
3. The Ministry of finance decision to revoke the certificate of eligible business for the specified Paragraph 1 of this article.
4. The decision to revoke the certificates of eligibility of business enterprises are published on the website of the Ministry of finance.
5. Business must cease immediately rank activities and services related to credit ratings since the time the certificate of eligible business automatically be invalidated; or from the time of the decision to revoke the certificates of qualified business has effect.
Chapter III OPERATION of SERVICE RANK Article 26. Active process rank 1. Business credit ratings must build process works rank include the following basic steps: a) to negotiate and sign a contract with the rank organisation was rated confidence;
b) selected and assigned the task of analysis involved a contract rank according to the provisions of article 29 of this Decree;
c) established the Council of rank to make a contract rank according to the provisions of article 30 of this Decree;
d) collect information, analyze, review, rated on its ability to fulfill its debt obligations on time, the Organization was rank;
DD) through rank results;
e) announced the report results rank;
g) track, update, reviews periodically reports the results rank as defined in the contract rank until the contract finishes rank;
h) end of contract credit ratings.
2. enterprises rank must follow the process rank as defined in paragraph 1 of this article.
3. credit ratings business to publish active process rank and the update process (if any) on the page of electronic information business.
Article 27. Contract of rank 1. Rank contract must guarantee the principles prescribed in article 5 of the Decree.
2. rank contract is made in writing and include the following basic content: a) the name, address, business representative of rank and the Organization was rank;
b) the purpose, scope and content of the activity the rank;
c) the time limit for performing contracts rank;
d) condition, terms of the announced results rank;
DD) costs of service rank;
e) rights, obligations and responsibilities of the parties in the process of implementing a contract rank;
g) information security obligations of the parties under the provisions of article 39 of this Decree;
h) specified on the track, reviews periodically, updated report results rank until the contract finishes rank;
I) regulations on the case ends a contract rank ahead of time and the responsibility of the parties;
k) regulations on the handling of disputes.
Article 28. The cost of service rank 1. The cost of service rank rank by enterprises and organizations rated credit contract agreements in order rank.
2. cost of service rank based on the following factors: a) the content, volume and nature of work;
b) contract time rank;
c) level, experience and reputation of expert analysis, the Council rated credit, corporate credit ratings;
d) the level of responsibility of the business ratting.
Article 29. Analyst 1. For each contract rank, rank business choice, assigned tasks and decide the number of expert analysis based on scale, the nature of the contract. Analyst involved in each contract rank must ensure the following basic requirements: a) meet all the criteria and conditions provided for in article 21 of this Decree;
b) Not active participation of business executives rank;
c) Not as Board members rated the same prestigious contracts rank;
d) Not in the case of conflict of interest when the contract rank as defined in item 2 Article 38 of the Decree. In the course of performing the contract, if the cases of conflict of interest analysis as specified in paragraph 2 to article 38 of this Decree, the credit rating business have to terminate their participation in contracts analyst ratings. Business can replace, new analyst supplements if necessary.
2. Tasks of the expert analysis: a) to collect information, analyze, review, rated on its ability to fulfill its debt obligations on time, the Organization was rank according to the assignment of credit ratings business;
b) report results rank expected up the Council rank according to the assignment of credit ratings business;
c) Council report rank and recommend termination of participation in the contract the rank in the case of conflict of interests specified in article 38 of this Decree;
d) in compliance with the ethical standards rules specified in article 34 of this Decree.
Article 30. The Council of rank 1. For each contract rank, rank Business Council rank, select and decide the number of members based on the scale, the nature of the contract but must have a minimum of three (3) members. The selection board members rated credit for each rank contract must comply with the following fundamental principles: a) Has a minimum of one (1) member of the Board of rank is the enterprise's workers rank;
b) Has a minimum of one (1) member of one of the following certificates: certificate of Auditor issued by the Ministry of finance, the certificate is internationally recognized in the field of investment analysis in securities, accounting and auditing;
c) meet all the criteria and conditions specified in article 20 of this Decree;
d) Not active participation of business executives rank;
DD) is not of the same analyst (1) contracts rank;
e) Not in the case of conflict of interest when the contract rank as defined in item 2 Article 38 of the Decree. In the course of performing the contract, if the cases of conflict of interests Board members rated the credit rank enterprise must terminate member's participation in contracts rank. Business can replace, Supplement Board members rated the new credit if necessary.
2. The Mission of the Council on credit rating: a) decided to rank results or change ranks rank ranking according to the voting mechanism prescribed in regulations of the Board of rank;
b) in the course of performing the contract, credit rating Board must report to the Manager of the business cases arising conflict of interest of the expert analysis, Board members rank specified in item 2 Article 38 of the Decree.
3. Liability of Board members credit rating: a) Board members rank have the right to participate in a meeting of the Council to assess credit ratings, discussed and voted through the degrees of rank, rank rank updates, report results rank;
b) in the course of performing the contract rank, Board members rank in the event of a conflict of interest as defined in item 2 Article 38 of the Decree has the obligation to report the Council rated and recommended the termination of the contract;
c) in compliance with the ethical standards rules specified in article 34 of this Decree.
4. The mechanism of action of the Council of rank: a) credit rating business is responsible for enacting regulations of the Council of the rank include the following basic content:-the Council's voting mechanism rank in which the minimum required over 60% of voting members through every decision of the Council;
-Elected Chairman of rank to the Board's operations Executive rank;

-The mechanisms dealing with conflict of interests of the analyst and Board Member rank (if any);
-Additional mechanisms, alternative Council Member rank.
b) When voting through degrees of rank, rank rank update and report the results rank, the rank to ensure independent, impartial, transparent and not be affected by the Director General, Director, Board and Board member of the business ratting.
c) rank Council itself abolished when rank contract ends.
Article 31. Business processes 1. Business credit ratings issued the business processes for service credit ratings as specified in this Decree.
2. The system of business processes including: a) the workflow of the analyst;
b) Regulations of the Council rank as prescribed in paragraph 4 to article 30 of this Decree;
c) method rank as defined in article 32 of this Decree;
d) building process, review and update methods of rank;
PREC) sets the rules of the ethical standards as specified in article 34 of this Decree.
Article 32. The method of rank 1. Rank business must build trust rating methodology to analyze, to evaluate the ability to perform full, timely debt obligations of the Organization was rank. Rank method must include the method of quantitative evaluation and qualitative evaluation methods.
2. The method of rank must evaluate the risk factors and the level of influence the ability to perform full, timely debt obligations of the Organization was rank, including the following basic content: a) macro risk;
b) market risk and the business environment;
c) strategic risks;
d) risk management;
personnel risk);
e) financial risk;
g) other risks according to the reviews of your business credit rating.
3. enterprises should use the rank rank methods systematically and consistently for each type of debt obligation and each industry, the manufacturing sector, business.
4. Periodically rank enterprise has responsibility for reviewing credit ratings methodology and assumptions used to adjust if necessary.
5. Business credit ratings are published on the page of electronic business information the basic content of the rank method.
Article 33. Degrees of rank 1. Credit ratings business to build and use consistent rank level system according to the following basic principles: a) Ranks rank must be clear, easy to understand, make sure the ability to compare between the degrees of rank;
b) hierarchical rank are ranked in order from highest to lowest in terms of the ability to perform full, timely debt obligations of the Organization was rank.
2. Business credit ratings are published on the website of the business about the symbols and the meaning of each rank level.
Article 34. The ethical standards rules 1. Business credit ratings must enact and apply the rules of ethical standards under standard International Securities Committee (IOSCO) and published on the website of the business.
2. enterprises rank must enact and apply the rules of the ethical standards for the operation of the business, analyst and Board Member rank.
Article 35. Report results rank 1. Business credit ratings are published on the page of electronic information businesses report the results rank within twenty-four (24) hours after the official decision about level results rank.
2. Report the results rank should include the following basic content: a) the degrees of rank;
b) overall rating about the Organization was rank;
c) The basic elements have positive and negative influences to the ability to perform full, timely debt obligations of the Organization was rank;
d) entire statistical results rank of the Organization was rank in the past (if available);
DD) name and title of expert analysis, Board members rank contract rank;
e) The case analyst, Council Member rank don't stop taking rank contract before the contract ends and the stating of reasons;
g) owned business ratting credibility of the Organization was rank;
h) owned the Organization was rank of workers of the enterprise credit rating;
I) commitment to make rank independently, impartially;
k) clearly rank report is information reference, not the investment recommendations, raising capital for the debt instrument, the financial instrument due to the Organization was rank.
3. Report the results rank must be signed by legal representative or authorized person of the business ratting.
Article 36. Disclosure of information 1. Business credit ratings are published on the website of the enterprise the following basic information: a) the name of the General Manager or Director of corporate credit ratings;
b) The rules of the ethical standards as specified in article 34 of this Decree;
c) method rank as defined in article 32 of this Decree;
d) degrees of rank according to the provisions of article 33 of this Decree;
DD) list, the percentage of shareholders ' capital contribution or membership, which owns 5% of the capital contributed by real businesses rank;
e) change the ownership of the shareholders or members, which has owned the actual capital contributed by the business rank on 5%;
g) report results rank as defined in article 35 for each rank contract.
2. Periodically six (6) month one (1) times, corporate credit ratings are published on the website of the enterprise the following basic statistics: a) results rank ranks of each organization was rated confidence since the first rank;
b the average rate) of full implementation, timely debt obligations of the organizations rated by credit rating level.
3. Before 1 may each year, corporate credit ratings are published on the page of electronic information business list of the organizations was trust ratings have varying costs of service rank constitute over 5% of the total revenue from the operation of enterprise's credit ratings in five adjacent before the financial disclosure information.
4. The information specified in paragraph 1, paragraph 2 and Paragraph 3 of this article must be maintained, stored in electronic information page of your business rank within a period of five (5) years from the time of publication.
Article 37. Internal control system 1. The internal control system is the set of mechanisms, policies, processes and internal regulations in order to ensure the prevention, detection and timely handling of risk in credit rating activities.
2. credit ratings business is construction and operation of the system of internal control to ensure: a) monitored independence, objectivity of credit ratings, business analyst and Board member with the rank organization ranked credit;
b) prevention, detection, timely handling of conflict of interest existing or the potential of your business credit rating, analyst and Board Member rank;
c) the prevention, detection, timely disclosure of information on the Organization was rank;
d) comply with the law and the bylaws, internal regulations, process.
3. the internal control system of enterprises credit rating must be held independent auditor reviews regularly every year.
Article 38. The cases of conflict of interest 1. Enterprise credit rating: a) Buy, holding stocks, shares, debt instruments of the Organization was rank in the process of implementing a contract rank;
b) provide service rank for relevant business people rank;
c) related investment capital contribution to the Organization was rank;
d) Has the relevant person owns 5% of the real capital of the Organization was rank or above 5% of the total outstanding of debt are rated.
2. The Manager, business analyst, Council Member rank: a) Buy, holding stocks, shares, debt instruments of the Organization was rank in the process of implementing a contract rank;
b) property on 5% of the real capital of the organization offers consulting services, risk management, underwriting, distribution agent for the Organization was rank;
c) engage negotiation costs of service contracts rank;
d) signed a contract with the Organization was rank;
DD) Have labor contracts with the Organization was rank;
e) involved providing consulting services, risk management, underwriting, distribution agent for the Organization was rank;
g) is the person concerned of the Organization was rank, the organization offers consulting services, risk management, underwriting, distribution agent for the Organization was rank;
h) Has the relevant person owns 5% of the real capital of the Organization was rank or above 5% of the total outstanding of debt are rated.
Article 39. Enterprise information security rank, analyst and Board Member rank of the business not to reveal information on the Organization was rank according to terms about information security provisions in the contract of rank, except for the information under the provisions of article 36 of this Decree , information is organized are approved by rank announced and information as requested by the governing body of the competent State.
Article 40. Archive records

1. credit ratings business to host both a hard and electronic data of all records rank analysis including data, materials used in the process rank.
2. time filing a minimum of ten (10) years.
3. credit ratings business is responsible for providing an archive for the competent authority upon request.
Chapter IV ACCOUNTING, bookkeeping, auditing, REPORTING of YOUR BUSINESS RANK Article 41. Accounting, bookkeeping, auditing 1. Corporate credit ratings to make accounting regime, accounting financial statements in accordance with the current law on accounting.
2. annual financial statements of the business rank required to be audited independently.
Article 42. Report mode 1. Annual recurring corporate credit ratings, are responsible for implementation of reporting the results of operations of the business, specifically the following: a) reports: the report of the business functioning results rank from January 1 to December 31 of each year;
b) content of reports and report templates follow the pattern number 5 in the appendix to this Decree;
c) time filing reports: Before September 30 of the year following adjacent States 4th report;
d) where the receiving report: the Ministry of finance.
2. enterprises rank are responsible for irregular reports as stipulated in article 24 of this decree or by request of the Ministry of finance.
Chapter V RESPONSIBILITIES of the RELEVANT ORGANIZATIONS Article 43. The Ministry of finance, Ministry of finance is responsible to the Government implement state management on business credit rating service, including: 1. Presiding, in coordination with the ministries concerned the Prime Minister approved the development plan of service rank in each period.
2. General, tracking, reviews the implementation of this Decree.
3. level, level back, adjust, revoke the certificate of eligible business enterprise's credit rating according to the provisions of this Decree.
4. Monitor, evaluate the situation of the business functioning rank through the reporting regime under the provisions of this Decree.
5. Check the compliance of the business functioning rank under the provisions of this Decree periodically (5) years or irregularly at the request of the management.
Article 44. The Ministry of planning and investment to participate in coordination with the Ministry of finance in the review, comments with respect to the grant, the grant of leave, adjust and recover the certificate of eligible business under the provisions of this Decree.
Article 45. The State Bank of Vietnam to participate in coordination with the Ministry of finance in the review, comments with respect to the grant, the grant of leave, adjust and recover the certificate of eligible business under the provisions of this Decree.
Article 46. The responsibility of the business rank 1. Compliance with operating principles rating service credit under the provisions of this Decree in the active process.
2. Regularly maintain the operating condition of your business rank specified in this Decree.
3. Perform operations rank as the right process works rank specified in clause 1 Article 26 of this Decree.
4. In compliance with rule sets ethical standards specified in article 34 of this Decree.
5. Arrange personnel to join the rank of the contract under the provisions of this Decree.
6. The financial reports as prescribed in article 42 of this Decree.
7. Compliance with the provisions about service providers rank as specified in this Decree.
Article 47. The responsibility of the Organization was rank 1. Create conditions for business credit ratings access to information to make credit ratings according to the contract signed with the credit rating business.
2. To fulfill the obligations as stipulated in the contract of rank and the provisions in this Decree.
Chapter VI ENFORCEMENT PROVISIONS Article 48. Effective enforcement of this Decree has effect as from November 15, 2014.
Article 49. Responsibility of Ministers, heads of ministerial agencies, heads of government agencies, the Chairman of people's Committee of the province, central cities, corporate credit rating and the organizations and individuals concerned is responsible for the implementation of this Decree.