Bangkok, January 14, 2015 ? The SEC suspended {A}, a securities investment consultant of Finansia Syrus Securities PLC., for trading securities on behalf of client and seeking benefits from the client during the performance of duties. From a report of Finansia Syrus Securities Plc, the SEC further probed into the case and found that {A} submitted securities trading orders before notifying a client and caused such client to suffer loss. In addition, most trading transactions had no source of or...
Bangkok, 1 February 2018 - The SEC has suspended approval for two securities investment consultants of KASIKORNBANK PCL. (KBANK) for failure to perform duties with responsibility and professional due care for the best interest of investors. The suspended persons are (1) {A} and (2) {B}. According to a report from KBANK and the SEC's further inspection, {A} was found to have signed on a unit subscription order of a client without contacting or giving advice to the client. She admitted having done...
Bangkok, December 9, 2014 - The SEC suspended {A}, a capital market investment consultant of Maybank Kim Eng Securities (Thailand) Plc., for 6 months.After receiving a client's complaint against {A}, the SEC further probed into the case and found that {A} persuaded his client to invest in derivatives contracts by exaggerating return from investment. He had prepared his own documents for giving investment advice without any reference from analysis report or certification of Maybank Kim Eng Securi...
Bangkok, June 10, 2014 - The SEC suspended two capital investment consultants, namely {A} and {C}, and a securities investment consultant {B} for trading securities on behalf of the client and failure to record the client's securities trading orders. They were RHB OSK Securities (Thailand) Plc. (OSK Securities) employees.From a routine inspection of RHB OSK Securities (Thailand) Plc, the SEC found that {A} had been authorized by his client to make securities trading decisions on the client's beh...
Bangkok, 2 November 2017 - The SEC has suspended the approval for a capital market investment consultant, {A}, for 12 months due to his failure to perform duties carefully and professionally. He was working for Asia Plus Securities Co., Ltd. at the time of misconduct.Following the inspection report submitted by Asia Plus Securities and the subsequent examination conducted by the SEC, it was found that {A} had solicited a client to invest in derivatives products by guaranteeing returns; the clien...
Bangkok, March 2, 2015 The SEC suspended {X1} Company and its financial advisor supervisor, {A}, for deficiency performance in case of a company filing an application, registration statement and draft prospectus for initial public offering of shares. The SEC's probe found that {X1} Company and {A} did not exercise due care in verifying relationships between the applicant and a company in the case that the applicant had transferred all shares of such company to a third party despite various facto...
The suspension was in connection to NMG’s submission of the financial statements for the year 2017, wherein the overstatement of revenue and accrued income in the financial statements for the year 2015 and 2016 were restated because fictitious revenue had been recorded. The SEC reviewed Patamavan’s engagement performance as NMG’s auditor and found that she failed to obtain reliable evidence that was sufficient and appropriate with regard to the audit of the revenue and the accrued income which...
Bangkok, 15 March 2017 - The SEC has suspended the approval of two securities investment consultants, {A} and {B}, for failing to perform duties with responsibility and deliberation as a professional for a period of four months and 40 days, respectively.In the case of {A}, who was a securities investment consultant and a branch manager at KASIKORNBANK Public Company Limited (KBANK) while committing misconduct, an inspection report from the bank and the SEC's further investigation have revealed t...
Bangkok, 13 September 2016 - The SEC has imposed a two-year suspension of approval on {A}, Executive Chairman of {X1} Company Limited, for failing to supervise the Know Your Client/Client Due Diligence (KYC/CDD) as well as client activity oversight systems. Additionally, the SEC is in the process of submitting the? case for consideration of the Criminal Fining Committee.During a routine inspection of {X1} Company Limited, the SEC found deficiencies in the company's KYC/CDD system. Also its clien...
Bangkok, 17 August 2016 - The SEC has suspended two capital market investment consultants, namely {A} for making unauthorized trading decisions, and {B} for giving investment advice without any reference to analysis report.In the case of {A}, a client filed a complaint against her and the SEC's further investigation revealed that she had made decisions to purchase securities without the client's authorization, consequently causing damage to the client. She was working for Globlex Securities Co.,...