Vietnam stock market regulator names new chair

Vu Thi Chan Phuong has been appointed chairwoman of the State Securities Commission after more than six years as the regulator’s vice head.

Finance Minister Ho Duc Phoc handed over the appointment decision to Phuong on Monday. She is the first chairwoman since the commission was established in 1996.

Phuong was born in 1971 in Nam Dinh province, and has a master’s degree in economics.

She started working at the State Securities Commission (SSC) in September 1998, serving as the commission’s deputy chief inspector and chief inspector. In July 2016, she was appointed vice chairman.

Previously, in May 2022, Finance Minister Ho Duc Phoc had dismissed Tran Van Dung from the position of chairman due to serious violations and shortcomings in his work.

Deputy Minister Nguyen Duc Chi had directly been in charge of the entity since the end of May 2022.

State Securities Commission chairman Tran Van Dung was removed from all positions in the Party on May 18, 2022. Earlier, the Central Inspection Committee had stated that the SSC’s Party Committee in the 2015-2020 term lacked responsibility, showed loose leadership, and lacked inspection and supervision, giving rise to some organizations and individuals "breaking the law, manipulating the market, and gaining illicit profits".

The disciplinary action took place in the context that the Ministry of Public Security was investigating a series of violations in securities trading and intentionally disclosing work secrets that occurred at the SSC.

On May 20, 2022, the Ministry of Finance assigned Deputy Minister Nguyen Duc Chi to directly run SSC after firing Dung.