If a Lawyer’s Practicing Certificate Is Revoked, May They Continue as an Asset Management Officer?

Short answer: No. A person whose lawyer practicing certificate is revoked falls under the cases of revocation of the Asset Management Officer practicing certificate (point i, Clause 1, Article 8 of Decree No. 65/2026/ND-CP). Once the Asset Management Officer practicing certificate has been revoked, the person no longer satisfies the practicing conditions and therefore cannot continue practicing as an asset management officer.

Responsibilities and Prohibited Acts of Asset Management Officers

Under Article 15 of Decree No. 65/2026/ND-CP (effective from 01/3/2026, replacing Decree No. 22/2015/ND-CP), Asset Management Officers must comply with the following principles when practicing: complying with the Constitution and the law; complying with the Code of Professional Ethics for Asset Management Officers; ensuring professional independence, honesty, transparency, and objectivity; being responsible before the law for practicing activities. Asset Management Officers must sign reports and documents on the results of exercising their rights and obligations; purchase professional liability insurance when practicing as individuals; report to the Department of Justice where they registered their practice on asset management and liquidation activities; and must not perform prohibited acts such as leasing or lending their practicing certificates, abusing duties and powers for personal gain, or disclosing information of insolvent enterprises obtained during practice.

If a Lawyer’s Practicing Certificate Is Revoked, Is the Asset Management Officer Certificate Also Revoked?

Yes. Under point i, Clause 1, Article 8 of Decree No. 65/2026/ND-CP, a person who has been granted an Asset Management Officer practicing certificate but has had their lawyer or auditor practicing certificate revoked falls under the cases of revocation of the Asset Management Officer practicing certificate. This regulation stems from the logic that lawyers are among the subjects eligible for Asset Management Officer practicing certificates (Clause 1, Article 12 of the Law on Recovery and Bankruptcy 2025); when a person is no longer a lawyer due to revocation of their practicing certificate, the basis for maintaining the Asset Management Officer certificate no longer exists.

Regarding procedures: under Clause 5, Article 8 of Decree No. 65/2026/ND-CP, the Minister of Justice decides on the revocation of Asset Management Officer practicing certificates; a person whose certificate is revoked is removed from the list of Asset Management Officers and asset management and liquidation enterprises, and has the right to file complaints or lawsuits in accordance with the law.

Conclusion

A person whose lawyer practicing certificate is revoked will concurrently have their Asset Management Officer practicing certificate revoked under point i, Clause 1, Article 8 of Decree No. 65/2026/ND-CP. Once the Asset Management Officer practicing certificate has been revoked, the person no longer satisfies the practicing conditions (holding an Asset Management Officer practicing certificate) and therefore cannot continue practicing as an asset management officer.

Notes on Applying Current Legal Regulations

Decree No. 22/2015/ND-CP expired on 01/3/2026; regulations on certificate revocation, obligations, and prohibited acts of Asset Management Officers now apply under Decree No. 65/2026/ND-CP. This article is presented for reference purposes. Where an accurate assessment of practicing status in a specific case is needed, please contact an ANT Legal lawyer at 0966.475.966 for verification and advice before proceeding.

Common Risks to Note

• Citing the expired Decree No. 22/2015/ND-CP;
• Assuming the Asset Management Officer certificate remains valid after the lawyer certificate is revoked;
• Continuing to sign reports and documents as an Asset Management Officer after certificate revocation;
• Confusing the initial certificate issuance conditions with the current certificate revocation grounds.

How Can ANT Legal Help?

ANT Legal supports reviewing practicing conditions, advising on procedures related to Asset Management Officer practicing certificates, and assessing legal risks in each specific case. For quick advice, please contact our lawyers at 0966.475.966.

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