Bangkok, May 13, 2011 ? The SEC has put Akekajak Buahapakdee, a financial advisor supervisor of Capital Nomura Securities Plc., on probation for breaching his duties as financial advisor for initial public offerings of two issuing companies concerning filing of application for approval for public offering of shares, registration statement, and draft prospectus (filing).Akekajak failed to perform due diligence concerning:1. Information on counterparty that may have relationship with issuing compa...
Bangkok May 9, 2012 ? The Southern Bangkok Criminal Court, on April 24 2012, sentenced Ratchanee Panich to a fine of 1,259,323.11 baht for aiding or abetting Apichart Rungruengacheeva (formerly Wisit Kanjanopas) in trading shares of Karat Sanitaryware Plc. ("KARAT") through her own account by using inside information. Such information was obtained by Apichart while performing duty as a chief legal counsel for the client in acquiring KARAT?s shares from its major shareholder and launching a tende...
Following an inspection report from SCB, which is licensed to operate securities business as a Limited Broker Dealer and Underwriter (LBDU) of investment units, SEC conducted a further inquiry and found that the aforesaid investment consultants proceeded with the redemption of long-term equity fund (LTF) units for clients in breach of the conditions for receiving tax benefits despite warnings from the Bank’s electronic trading system, thus causing damage to clients. Details of the miscondu...
Bangkok, March 21, 2011- The Criminal Court has sentenced {A} to a fine of 600,000 baht for aiding or abetting the manipulation of the share price of Chai Watana Tannery Group Plc. (CWT).The SEC, on January 10, 2008, filed complaints against (1) {B} and (2) {A} for aiding or abetting the CWT share price manipulation from July 15, 2004 to February 9, 2005 in violation of Section 243 and Section 244 of the Securities and Exchange Act B.E. 2535 (1992) in conjunction with Section 83 and Section 86 o...
Bangkok, March 22, 2011? The Southern Bangkok Criminal Court sentenced Kittipat Yaoprukse to eight-year and 18-month imprisonment and a fine of 1,880,000 baht. On February 24, 2003, the SEC filed a criminal complaint against Roynet Plc. (Roynet) and Kittipat Yaoprukse for falsifying account to deceive other persons, recording false statement, concealing the report on buying and selling of securities, and using inside information for trading Roynet shares in violation of Section 300 with Section...
Following an inspection report from KBANK, a limited broker dealer and underwriter (LBDU) licensee, and the SEC’s further investigation, it was found that some employees of the bank, who acted as securities investment consultants, had committed wrongful acts against clients at various branch offices as follows: (1) In the case of Miss Surasa Mungthaworn, it was found that she had persuaded clients to invest in funds and withdrew large sums of money from the clients’ acco...
According to the complaints submitted by nine investors and SEC’s further investigation, it was found that during 13 July 2015 – 13 November 2018 Napasook , an LH securities investment consultant at the time, was committing wrongful acts against clients’ assets through misappropriation of their subscription money for mutual fund investment. In so doing, she fabricated and submitted false documents in order to lure the investors into believing that their subscription transactions had been e...
Following a TMB report on clients’ complaints and SEC’s further investigation, it was found that during 27 July 2015 – 5 June 2017 Nuchanart (1) withdrew money from her clients’ bank accounts without using the money to buy investment units as per the clients’ orders, (2) bought investment units less than the amount ordered, (3) misappropriated her clients’ money by depositing it into her own account or the accounts of other parties involved as well as depositing certain amounts back into t...
Following the investor’s complaint and SEC’s further investigation, it was found that on 11 October 2018 during the trading hours of the Derivatives Exchange, a client of {A} sent an order to close the position of derivatives contract with SET50 underlying at-the-open (ATO) price as soon as the trading session began.* However, since the client sent the order after the trading had already begun, {A} could not execute the ATO order in time and decided to execute the order at the market price...
According to AIA’s inspection report and SEC’s further investigation, it was found that Sorrapon received the unit-linked life insurance premium from the client but did not forward the premium money to the company as originally intended by the client. Instead, he used the money for his own benefit. As a result, the client’s life insurance policy became ineffective and the client suffered damage at the amount of 20,000 baht. SEC has considered that Sorrapon failed to perform duties with...