Deputy Minister Nguyen Duc Chi said that the mistakes of some leaders of the Securities Commission were personal and the ministry always had a plan to ensure personnel work.
“We are also preparing plans, including plans on personnel work to strengthen the Securities Commission, the Stock Exchange and the Securities Depository Center in any situation, in any situation. different options,” Deputy Finance Minister Nguyen Duc Chi told the press on the afternoon of May 18.
This afternoon, according to the announcement of the Central Commission for Inspection, Mr. Tran Van Dung, Chairman of the State Securities Commission, was removed from all positions in the Party. Mr. Le Hai Tra, Secretary of the Party Committee, General Director of the Ho Chi Minh Stock Exchange (HoSE) was expelled from the Party. Mr. Vu Bang – former Chairman of the Securities Commission, Mr. Nguyen Thanh Long – Chairman of the Vietnam Stock Exchange, Mr. Nguyen Son, Chairman of the Board of Directors of the Securities Depository Center, were also warned.
According to Mr. Chi, the Ministry of Finance has prepared all plans for replacement personnel. If any individual has defects, the ministry will coordinate with competent agencies to strictly handle them in accordance with law.
The collective leadership of the Securities Commission, once concluded by the Central Inspection Commission, has been irresponsible, looses leadership and direction, lacks inspection and supervision, so that a number of organizations and individuals “violate the law”. laws, manipulate the market, gain illicit profits”.
The ministry’s leaders also affirmed that they are always proactive and have a plan to ensure the stock market operates continuously, stably and safely. The mistakes of some individuals and officials in the process of managing and operating the market, according to Deputy Minister Nguyen Duc Chi, are only personal.
To stabilize the market, the Deputy Finance Minister said that many synchronous solutions will be implemented. In particular, the ministry will accelerate the upgrade of the trading system for the HoSE according to the bidding package signed with the Korea Stock Exchange (KRX). Accordingly, the goal is to complete this year to put the new system into operation, creating conditions to take the market one step further.
In addition, speeding up the upgrade and achieving the upgrade standard according to the stock market development strategy are also prioritized by the ministry’s leaders.