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
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...
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
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...
his approval as investment consultant and branch manager or equivalent position for two months for failing to comply with the client’s instruction, effective from 5 April 2019, and disclose the
information from the client or the officer who executed the selling transaction for the client. Signing the buy/sell order form of investment units without contacting and giving advices was failing to perform
Following the complaints of two clients and SEC’s further investigation, it was found that {A} had made trading decisions without investors’ orders, while {B} and {C} had accepted trading orders from persons who were not the owners of the accounts or were not authorized in writing by the investors. Their acts caused damage to the clients during February – November 2018.The misconduct of the investment consultants above was deemed failure to perform duties with responsibility and deliberat...
Following an inspection report from Bangkok Bank Public Company Limited, a limited broker dealer and underwriter (LBDU) licensee, and the SEC’s further investigation, it was revealed that Pongsak had affixed signature on subscription orders, redemption orders and switch orders of investment units, in his position as investment consultant, without meeting with or giving advice to a client in any way. The SEC has considered that Pongsak’s misconduct of performing duties irresponsibly wit...
. Other employees involved in this incident were also disciplined by TMB for failing to comply with bank’s operating procedures. In considering the appropriate administrative sanction, SEC takes into
According to an inspection report submitted by Maybank Kim Eng and a complaint from a client and the SEC’s further investigation, it was found that during August 2011 – October 2018, {A} sent trading orders of derivatives and shares in large volumes without the client’s authorization. When the client’s account suffered a large amount of loss, {A} tricked the client into depositing more cash into the derivatives trading account in order to continue trading. She later made a summary trading report...