but with permission to provide services only to institutional investors. Its public solicitation was therefore considered unlicensed derivatives business. This case is under consideration of the public

Financial (NZ) Ltd. had been registered with the SEC as derivatives dealer but with permission to provide services only to institutional investors. Its public solicitation was therefore considered unlicensed

EARTH's requests for extension of the repayment period, which led to EARTH's lack of liquidity. Subsequently, on 2 June 2017, Mr. Phipat granted permission to a brokerage firm to sell EARTH

profit decrease in Q2/2014 of 168.79 million baht which significantly fell from the operating net profit of Q1/2014 by 84.60 percent (a decrease of 1,096.04 million baht). He obtained the material non

BLA through its the securities trading account in such a way as to take advantage of other persons by using negative material non- public information concerning BLA’s operating net profit decrease in Q2

fell from Q3/2013 with the net profit of 1,100.96 million baht, a decrease of 179.98 percent and fell from Q2/2014 with the net profit of 168.79 million baht, a decrease of 621.72 percent, before such

baht significantly fell from Q3/2013 with the net profit of 1,100.96 million baht, a decrease of 179.98 percent and fell from Q2/2014 with the net profit of 168.79 million baht, a decrease of 621.72

misconduct above is deemed an execution of concealed transactions, asset misappropriation, permission of false accounting transactions and preparation of incorrect accounting records. In addition, he informed

other persons by using negative material non- public information concerning BLA’s operating net profit decrease in Q2/2014 of 168.79 million baht which significantly fell from the operating net profit of

. In addition, during July to August 2018, Ms. Chantip knew or possesed the inside information about the net profit significantly decrease in financial statements of Q2/2018. Subsequently, on 12 July