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The working history of Mr. Le Hai Tra and Tran Van Dung, 2 leaders of the securities industry, have just been disciplined

With Mr Le Hai Trathe Central Inspection Committee also decided to dismiss him from all positions in the Party Tran Van DungMember 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 (SSC).

The Central Inspection Committee determined that the Party Committee of the State Securities Commission had violated the principle of democratic centralism and working regulations; lack of responsibility, loose leadership, direction, lack of inspection and supervision…; so that a number of organizations and individuals under the State Securities Commission have many violations and shortcomings in advising on the development of institutions and policies and performing the state management of securities activities and the securities market; for a number of organizations and individuals to violate the law, manipulate the market, and gain illicit profits.

The working history of Mr. Le Hai Tra and Tran Van Dung, two leaders of the securities industry who have just been disciplined - Photo 1.

Mr. Le Hai Tra was born in 1974 in Hai Phong, was once expected to be a technocrat leader after returning from studying abroad. Mr. Tra holds a Master’s degree in Public Management, majoring in leadership and financial market analysis from the Harvard Kennedy School of Public Policy, Harvard University (USA).

He has been with the Ho Chi Minh City Stock Exchange for many years and has made many contributions since this unit was the Ho Chi Minh City Stock Exchange Center.

In 2006, in the midst of the most exciting stock market, Mr. Tra was appointed as Deputy General Director HoSE. In 2017, he held the position of in charge of operating the HoSE Board of Directors after HoSE Chairman Tran Van Dung was appointed Chairman of the State Securities Commission.

In February 2021, Mr. Tra was appointed General Director of HoSE. This was also the time when the Vietnamese stock market exploded with record trading sessions in terms of liquidity. However, along with that are the inadequacies of the HoSE when the blockade of orders continuously occurs, causing frustration for investors.

In March 2021, when HoSE’s order congestion reached its peak, Mr. Le Hai Tra once said that he could raise the trading lot from 100 to 1,000 shares/order to reduce the number of small orders, directly reducing the number of orders. pressure on HoSE’s handling system. However, the solution was not implemented.

Currently, HoSE is still in the process of implementing the information technology project of the contractor KRX. This project has been implemented since the early 2010s but so far has not been able to officially operate.

Under Mr. Tra as General Director, many stock manipulation cases took place, typically the FLC stock price manipulation case led by Trinh Van Quyet; The case of stock price manipulation in the “family” of Louis was led by Do Thanh Nhan. Both of these subjects were prosecuted and taken into custody in March and April.

The working history of Mr. Le Hai Tra and Tran Van Dung, two leaders of the securities industry who have just been disciplined - Photo 3.
Mr. Tran Van Dung.

Mr. Tra’s predecessor at HOSE was Mr. Tran Van Dung.

Mr. Dung was born in 1965, holds a Master’s degree in Economics, Advanced Political Theory, was appointed to the position of Chairman of the State Securities Commission on 12/7/2017.

Mr. Dung has 30 years of experience working in the fields of finance, banking, and securities, having worked at agencies and units: State Bank, State Securities Commission, HNX and HoSE.

Mr. Tran Van Dung used to hold leadership and management titles and positions such as: Deputy Office of the State Securities Commission, Vice Chairman of the Board of Directors cum General Director of HNX, Chairman of the Board of Directors cum General Director of HNX, Vice Chairman of the Board of Directors and General Director of HNX. Director of HoSE, Chairman of the Board of Directors of HoSE.

At the end of 2016, Mr. Dung was appointed to the position of General Director of HoSE, replacing Mr. Tran Dac Sinh. During Mr. Dung’s leadership of the State Securities Commission, the situation of order blockage was not completely resolved, while the situation of stock price manipulation also appeared more.

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