Bangkok, 29 January 2019 - The SEC has suspended approval for {A} as a capital market investment consultant for a period of three months and 22 days on the ground that she accepted an investor's assignment to make investment decisions for the investor.Following a client complaint, the SEC made further investigation and found that during September 2017 - February 2018, {A}, then working for Asia Wealth Securities Company Limited, had made trading orders before informing the client who did not mak...
Bangkok, 31 January 2019 - The SEC has suspended approval for {A} as a securities investment consultant for one month on the ground of giving information or investment advice incompletely or incorrectly, and failing to disclose material information to support an investor's decision making.Following a client complaint, the SEC made further investigation and found that in May 2016 {A}, then working for RHB Securities (Thailand) Public Company Limited, advised the client to buy shares of a company,...
Bangkok, 20 October 2016 - The SEC has suspended the approval as capital market investment consultant of {A} for 18 months for seeking benefits and making investment decisions for clients. She committed the misconducts while working at Globlex Securities Co., Ltd. and later at KTB Securities (Thailand) Co., Ltd. Following the inspection reports of Globlex and KTB and her clients? complaints, the SEC?s further investigation has revealed that while working at Globlex, {A} made trading orders for...
Following the complaints from investors and the inspection reports from TMB, which is licensed to operate securities business as a Limited Broker Dealer and Underwriter (LBDU) of investment units, the SEC conducted further investigation and found that the aforesaid investment consultants who were TMB employees had failed to perform duties with responsibility and professional due care with regard to the following cases taking place at different branches: (1) In the case of {A}, the findings sh...
Following the client’s complaint regarding damage from block trading of single stock futures, the SEC’s further investigation revealed that during the month of October 2017, {A} failed to comply with the client’s instruction to cut loss when the client’s derivatives trading account hit a one-million baht loss. As a result of his negligence, the client’s account was closed and the client suffered loss. Moreover, {A} advised the client to wait for a quota of IPO shares and expect such shares to co...
Bangkok, March 1, 2016 - The SEC has suspended {A}, a securities investment consultant at Bangkok Bank PCL., for failing to inform a client of material information, which consequently incurred damage to the client. With reference to the bank?s report on the client?s complaint and the SEC's further inspection, {A} was found to have signed on the unit redemption form of Bualuang Long-Term Equity Fund 75/25 (BLTF75/25) after only verifying the client?s name and the number of units to be redeemed w...
Bangkok, March 21, 2016 ? The SEC has ordered Chewathai Public Company Limited (CHEWA) and its financial advisor RHB Securities (Thailand) Public Company Limited to clarify their disclosure, via media interview, of additional information beyond what appears in the filing of CHEWA initial public offering. The cooling period of the IPO, as a result, has been suspended due to the inconsistent disclosure. With reference to the interview given by CHEWA executive and RHB financial advisor, which appe...
According to BBL’s inspection report and SEC’s further investigation, it was found that {A} had submitted false documents to the bank by signing on unit subscription orders for the client in order to complete the transactions. The client had given prior consent to her act claiming it was inconvenient to affix signature in person at the time. Despite no intention to conceal information in the act caused by an external factor, {A}’s submission of false documents to the bank in order to hel...
Following a client’s complaint and SEC’s further investigation, it was found that during 20-27 September 2018 {A}, as investment consultant of the client, failed to inform the client of the liquidity problem of an issuer of bills of exchange, which was material information for investment decision making of investors. Her misconduct was deemed failure to give advice or information to investors correctly and completely and without sufficiently notifying or giving information that was import...
Earlier, {X1} had under recorded its liabilities for short-term bills of exchange (B/E) in the annual financial statements for the financial year 2015. The SEC then reviewed the work of {X1}’s auditor and found audit deficiencies related to the issuance of B/E. The deficiencies resulted in {A}’s failure to detect the incomplete record of the B/E in the annual financial statements.The SEC has therefore suspended the approval for {A} as a capital market auditor for six months, starting from 19 Jan...