continuously trading PICO’s shares in his four securities trading accounts, that is, he submitted trading orders in a manner to drive up the share price by submitting a large number of trading orders. As a
Bangkok, 13 November 2017 ? In response to the Ministry of Finance's request, the SEC is conducting another public hearing on the draft amendment to the Securities and Exchange Act B.E. 2535 (1992) concerning the establishment of the Capital Market Development Fund (CMDF). This second consultation focuses on revising the CMDF's objectives to include necessary financial support for the Stock Exchange of Thailand (SET). The first hearing conducted earlier in the month of June attracted various,...
Bangkok, February 1, 2013 ? According to the news coverage, the Department of Special Investigation (DSI) on January 2, 2013 announced that the Special Investigation Working Team resolved to press charges against officials of the Bangkok Metropolitan Administration (BMA) and the two companies - Krungthep Thanakom Co., Ltd. (KT), Bangkok Mass Transit System PLC (BTSC) ? including their executives for involvement in the skytrain contract that they have allegedly operate railway systems or obtainin...
Bangkok, 23 June 2017 ? The SEC has ordered Polaris Capital Public Company Limited (POLAR) to have an auditor conduct a special audit on the sources, existence and completeness of its accounting records and its disclosure of liabilities in the financial statements as previously reported in the application for business rehabilitation. The results of the special audit must be disclosed within 30 days.On 8 May 2017, POLAR submitted the financial statements for the year 2016 to the SEC wherein the a...
Section 58 (3) of the Securities and Exchange Act B.E. 2535 (1992), orders EARTH to arrange a special audit on the advanced payments for goods and purchase deposits by an auditor from any of the Big Four
Bangkok, January 17, 2011 ? The SEC ordered Bliss-Tel Plc. (BLISS) to arrange a special audit by the auditor who has reviewed the company?s third quarterly financial statements of 2010 on the item of 29.9 million baht advance payment for advertising service by cashier cheque. Earlier, the auditor had, in accordance with Section 89/25 of the Securities and Exchange Act B.E. 2535 (1992), informed the company?s audit committee of the doubtful advance payment for advertising service by cashier chequ...
Bangkok, August 8, 2013 ? The SEC ordered Millcon Steel Plc. (MILL) to arrange a special audit by either the auditor who audited the company?s 2012 financial statements or any other auditors on the SEC?s approval list who also work for leading auditing firms (big 4). The special audit will cover the transactions with MILL?s business alliances which may be considered as related parties and shares dilution in Million Miles Co., Ltd., formerly a subsidiary of MILL. In this regard, MILL must submit...
Bangkok, November 9, 2011 ? The SEC ordered Tongkah Harbour Plc. (THL) to arrange a special audit with regard to the company?s internal control, appropriateness of connected transactions and asset management, conducted by an SEC-approved auditor working for one of the big four audit firms. The suspicious grounds for such audit are: (1) the placement of THL assets as collateral for stay of legal execution against related company, (2) high-interest rate loan agreement with related company, (3) oth...
Earlier, the Civil Sanction Committee (CSC) resolved to impose civil sanctions on six offenders* in the case of manipulating the BM share price, requiring them to make the total payment of 8,001,949 baht (consisting of civil monetary penalties, compensations for the benefits received or would have been received, and the reimbursements of investigative expenses incurred by the SEC) and prohibiting them from trading securities or derivatives for a period of six months or 11 months each (as the cas...