A series of securities bosses were disciplined, the Deputy Minister of Finance said, “If it is wrong, it must be corrected”
The Central Commission for Inspection has just officially announced the disciplinary measures for collectives and individuals who are former leaders and leaders of the State Securities Commission, the Vietnam Stock Exchange (VNX). , Ho Chi Minh City Stock Exchange (HOSE) and Vietnam Securities Depository (VSD).
Right this afternoon (May 18), as the Ministry of direct management of the Securities industry, Deputy Minister of Finance Nguyen Duc Chi affirmed that it is important to let mistakes happen and have to deal with them. We really don’t want to and it’s a pity.
“Even so, mistakes must be corrected, but it is important that we see the true nature of the remaining problems, in order to overcome them in the most effective way and maintain confidence in the future development of the stock market. Vietnam,” said Mr. Chi.
On the side of the Ministry of Finance, Mr. Chi said that the Ministry and related units will strictly comply, learn from profound experiences and make the best efforts to overcome the shortcomings and shortcomings that have been raised.
“The Ministry of Finance affirmed that these are individual violations and in each specific period, the state management of the securities sector and the operation of the stock market is still ensured in the right direction. creating all conditions for the market to operate normally, stably and smoothly, ensuring the rights and obligations of domestic and foreign organizations and individuals participating in the Vietnamese stock market”, Deputy Minister emphasized by the Ministry of Finance.
In the coming time, the Ministry of Finance will prioritize the strengthening of the organization of the Securities industry to quickly stabilize the organization and personnel, stabilize the psychology of officials and employees, and ensure the management of the securities industry. regularly, continuously and effectively manage, supervise and operate the stock market.
In addition to short-term solutions to stabilize the market, the Ministry of Finance and the State Securities Commission will insist on solutions in the medium and long term for the stock market to develop sustainably, transparently, and effectively. more effective in the economic development of the country.
On May 18, the Central Inspection Committee, term XIII, issued a statement on the 15th meeting of the Inspection Committee, including content at the State Securities Commission.
– Warn the Party Committee of the State Securities Commission for the term 2015 – 2020, 2020 – 2025.
– Expulsion from the Party, Comrade Le Hai Tra, Secretary of the Party Committee, General Director of Ho Chi Minh City Stock Exchange.
– Removed all positions in the Party for Comrade Tran Van Dung, Member of the Executive Committee of the Party Committee of the Ministry of Finance, Secretary of the Party Committee of the Agency, Chairman of the State Securities Commission.
– Warn comrades: Vu Bang, former Secretary of the Agency’s Party Committee, former Chairman of the State Securities Commission; Nguyen Thanh Long, Member of the Executive Committee of the Party Committee of the Ministry of Finance, Secretary of the Party Committee of the Hanoi Stock Exchange, Chairman of the Board of Members of the Vietnam Stock Exchange; Nguyen Son, Secretary of the Party Committee, Chairman of the Board of Directors of the Vietnam Securities Depository Center.
HOSE General Director Le Hai Tra was expelled from the Party
Regarding the strong fluctuations of Vietnam’s stock market in recent times, Deputy Minister Nguyen Duc Chi said that the Ministry of Finance has strongly directed the State Securities Commission, VNX, Stock Exchange, HOSE and (VSD). urgently take urgent and timely solutions to support the market to stabilize soon.
“Besides promoting communication to help businesses, market participants and investors stabilize their psychology and believe in the future development of the stock market, the Securities Commission has issued many timely solutions such as: Disclosure of proprietary transaction information; change the method of calculating the final settlement price of the VN30 index futures contract at maturity; announced 5 stocks that hit the ceiling / hit the floor in 5 consecutive sessions; implementing odd lot transactions;…”, Mr. Chi said.
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