Portrait of Chairman of the State Securities Commission Tran Van Dung has just been removed from all Party positions

As reported by Dan Viet, on May 16 and 17, in Hanoi, the Central Inspection Committee held its 15th session. Mr. Tran Cam Tu – Politburo member, Secretary of the Party Central Committee, Chairman Central Inspection Committee – preside over the meeting.

At this meeting, the Central Inspection Committee issued a disciplinary warning to the Party Committee of the State Securities Commission for the term 2015 – 2020, 2020 – 2025.

Excluded from the Party, Mr. Le Hai Tra – Secretary of the Party Committee, General Director of the Ho Chi Minh City Stock Exchange.

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.

According to research, Mr. Tran Van Dung (born in 1965) has an education: Master of Development Studies – Saitama University (Japan).

Mr. Tran Van Dung has 25 years of experience working in the fields of finance, banking, and securities, having worked in the following agencies and units:

During 1992-1997, Mr. Dung worked at the State Bank of Vietnam.

From 1997 to 2003, Mr. Dung worked at the State Securities Commission.

From 2003-2/2016: Worked at Hanoi Stock Exchange (HNX) with previous positions: Director of Hanoi Securities Trading Center (2003-2009); Vice Chairman of the Board of Directors cum General Director of Hanoi Stock Exchange (2009-2012); Chairman of the Board of Directors cum General Director of Hanoi Stock Exchange (from December 2012 to February 2016).

Period from 3/2016 to 7/2017: Working at Ho Chi Minh Stock Exchange (HOSE), with previous positions: Vice Chairman of the Board of Directors cum General Director of the Stock Exchange Ho Chi Minh City Securities (March 2016-October 2016); Chairman of the Board of Directors of Ho Chi Minh City Stock Exchange. Ho Chi Minh City (since November 2016).

Mr. Tran Van Dung was appointed to the position of head of HOSE on November 1, 2016, replacing Mr. Tran Dac Sinh until he reached retirement age. Mr. Dung has been the Chairman of the Board of Directors and General Director of the Hanoi Stock Exchange (HNX) since 2012 before being transferred to the position of General Director of HOSE on March 1, 2016.

In 2016, Mr. Dung’s move to Ho Chi Minh City was of great interest to the financial world because this was the first time there was a rotation of senior personnel between two stock exchanges.

He is one of the few people who has been with HNX since his birth and has been operating the Northern Stock Exchange for more than 12 years.

At HNX, Mr. Dung and his associates built the first bricks of the securities trading system, the HNX’s bonds, the UPCoM stock exchange, the government bond market, corporate bonds and derivatives. .

Mr. Dung is known to be very interested in attracting foreign capital to invest in the stock market. In particular, in the press, he always affirmed and highly appreciated the transparency of the market. When he was Chairman and General Director of HNX, he also awarded information disclosure and transparency awards to businesses.

Previously, on March 31, 2022, the Central Inspection Committee once assessed that the Party Committee of the State Securities Commission for the 2015-2020 term was irresponsible, loose leadership, lacked inspection and supervision. for some organizations and individuals to “break the law, manipulate the market, and gain illicit profits”.

The disciplinary action took place after the Ministry of Public Security was investigating a series of violations in securities trading and intentionally disclosing work secrets that occurred at the State Securities Commission. Currently, 3 cases have been prosecuted.

In the first case, on March 29, the Ministry of Public Security prosecuted and arrested former FLC Group chairman Trinh Van Quyet. A month later, Mr. Do Duc Nam, General Director of Tri Viet Securities, and Mr. Do Thanh Nhan, Chairman of Louis Holdings were arrested.

In the third case, on April 29, the Investigative Security Agency of the Ministry of Public Security prosecuted and detained Mr. Nguyen Hung, deputy director of the Securities Market Supervision Department under the State Securities Commission, to investigate the case. Intentionally disclosing work secrets. The crime in this case has not been disclosed.

After news of the prosecution of a series of senior leaders at enterprises, the stock market has been plunging for nearly 2 months now. At the peak at the session on May 13, VN-Index continued to fall deeply, breaking the 1,200 point mark, panic selling investors. This unexpected market movement went beyond the expectations of analysts and Vietnamese securities.