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Disciplinary actions taken against top securities market leaders

The Saigon Times

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HCMC – Le Hai Tra, general director of the Hochiminh Stock Exchange (HOSE), has lost his Party membership while the chairman of the State Securities Commission (SSC), Tran Van Dung, has been stripped of all his Party posts.

These are the disciplinary measures taken by the Party Central Committee’s Inspection Commission at its meeting on May 16-17 over the two’s responsibility for stock market manipulation by some individuals and organizations.

Le Hai Tra serves as secretary of the Party Committee at HOSE and Tran Van Dung is a member of the Executive Board of the Party Committee at SSC and secretary of the SSC’s Party Civil Affairs Committee.

The commission also issued warnings against Vu Bang, former chairman of SSC, Nguyen Thanh Long, chairman of the Members Council of the Vietnam Stock Exchange (VNX), and Nguyen Son, chairman of the Board of Directors of the Vietnam Securities Depository (VSD).

The Ministry of Finance, which oversees SSC, VNX, HOSE and VSD, issued a statement yesterday, May 18, saying that it had ordered all the agencies concerned to immediately take measures to deal with the consequences of violations and shortcomings.

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