HCMC – The Members Council of the Hochiminh Stock Exchange (HOSE) today, May 20, fired general director Le Hai Tra, and picked Tran Anh Dao as caretaker general director of the southern bourse.

The council met today to decide Tra’s fate after the Party Central Committee’s Inspection Commission expelled him from the Party due to his responsibility for stock market manipulation committed by some individuals and organizations. He was serving as secretary of the Party Committee at HOSE before his loss of Party membership.

According to a decision signed by acting HOSE chair Nguyen Thi Viet, HOSE deputy general director Tran Anh Dao began to take charge of the bourse from May 20. In mid-2013, Dao was appointed as HOSE deputy general director for auctions and listing management. HOSE currently has three general directors, namely Ngo Viet Hoang Giao, Nguyen Vu Quang Trung and Tram Tuan Vu. This morning, the Ministry of Finance removed Tran Van Dung from his position of chairman of the State Securities Commission (SSC) after the Party Central Committee’s Inspection Commission removed him of all Party posts for his responsibility for stock market manipulation by some individuals and organizations. Deputy Finance Minister Nguyen Duc Chi replaced Dung as chairman of SSC.