The action follows the revocation of Renaissance FMC’s securities business and derivatives business licenses due to conduct demonstrating a lack of credibility, operational readiness, and serious deficiencies in management and internal control systems. The company’s financial statements contained items that did not exist or were misstated, and the capital maintenance report overstated liquid assets. The SEC therefore reviewed Ms. Sulalit’s audit work performed for Renaissance FMC and f...
Following an inspection report from One and the SEC’s further investigation, it was found that during the period from 2012 to 28 June 2024, Mr. Soontorn engaged in conduct constituting a failure to perform duties or provide services with honesty and good faith. Specifically, (1) he requested and used client’s mutual fund trading account to conduct investment transactions in mutual funds under the management of One for his own benefit with the client’s consent; (2) he personally signed client’s r...
The Securities and Exchange Commission (SEC), with the reports from the Krungthai Bank PLC and the SEC’s further investigation, found that in November 2021 Saowarat had misappropriated her client assets, redeeming the mutual fund units without client consent in the following manner, causing damage to the client, who had completely compensated, in the amount totaling 1,027,000 baht: 1. Using the client’s identification card left with her to verify the identity, the password of th...
According to TMB’s report, a Limited Broker Dealer and Underwriter (LBDU) licensee, Sarunya, an investment consultant for Complex Instruments Type 2, committed an offense and later OIC ordered a revocation of her license as a life insurance broker and agent on account of performing duties dishonestly when she failed to forward premium money of 1 million baht she had received from a client to the insurance company in charge. SEC has considered that Sarunya, whose license as life insurance...
Bangkok, 3 August 2023 – SEC has ordered a revocation of an investment consultant approval on Mr. Teerasak Tipboonsri for 10 years for failure to perform duties with loyalty, misappropriating client assets for personal gains by having his clients transferred payment for subscription of mutual fund investment units as well as their deposits into his own account. At the time of his wrongdoing, he was employed by the Kiatnakin Phatra Bank Public Company Limited. The Securities and Exchange C...
Bangkok, May 7, 2014 - The SEC revoked an approval of {A}, an investment consultant of Bualuang Securities Plc. for two years on account of trading derivatives through client's account for his own benefit.Following a report of Bualuang Securities Plc., on {A} case the SEC probed into the case and found that he used computer with Bualuang Securities' IP Address to submit the trading orders via client's internet derivatives trading account. {A} admitted that he asked for internet trading account's...
Following an inspection report from ttb Bank and the SEC’s further investigation, it was found that during the years 2015 – 2024 Sareerat acted in a manner that implied dishonesty and committed wrongdoing against a client’s assets by (1) using the client’s credit card to withdraw cash and spending the money for her own personal use, (2) replacing the client’s banking account contact information (mobile number and email address) with her own information to register for the bank’s internet...
Following an inspection report from KTB and the SEC’s further investigation, it was found that during the period from April 2018 to December 2024, Miss Suntaree committed misconduct involving the misappropriation of assets belonging to 11 clients, with a total value of THB 115,550,000. The misconduct comprised the following: (1) presenting investment funds and receiving withdrawal forms or cash, purchase order forms signed by clients, as well as copies of clients’ identification cards and...
According to the findings of SEC inspection on the operation of SKFM whose main business is private fund management, in 2018 Mr. King, CEO and fund manager of the company at the time, acted in the following manners: (1) funneling damage incurred from investment among the clients of private funds by making cross-trade transactions of shares under trading suspension (SP) sign on a continual basis from 2015 to 2017; (2) managing private funds without taking the cli...
On 6 July 2023, the SEC filed a criminal complaint against 10 offenders, comprising STARK and its former directors and executives, with DSI for colluding to falsify or consenting to the falsification of the STARK and its subsidiaries’ financial statements during 2021-2022, disclosing such presumably falsified financial statements in the registration statements and draft prospectus, and concealing the facts which should have been disclosed in the factsheets of the company’s corporate bond offerin...