/rexchange168/ Currently, it should also be noted that there is no digital asset issuer approved by SEC at the moment. Therefore, investors should proceed with cautions if being solicited or receiving
Bangkok, 19 October 2017, The SEC has notified Group Lease Public Company Limited (GL) that failure to correct its financial statements promptly may be deemed a misconduct in violation of the Securities and Exchange Act. On 16 October 2017, the SEC filed a criminal complaint against the GL management with the Department of Special Investigation (DSI) on account of concealed transactions, embezzlement and permission to prepare inaccurate accounts, which caused the GL financial statements to show...
SEC Secretary-General Rapee Sucharitakul said that there had been several fraud cases regarding investment in digital assets which might result in a huge loss for investors. This led to the enactment of the Emergency Decree on Digital Asset Businesses B.E. 2561 (2018), which requires that digital token issuers and digital asset business operators shall obtain approval and/or proper licenses to alleviate the risk of frauds.Moreover, it is advisable to be cautious when being solicited to in...
SEC has received information that Ronghui has invited retail investors to join certain investment by informing that their money will reinvest in real estate projects or investment projects of other companies, which offer high returns along with having minimum investment amounts and an investment period no more than one year. Promotions such as financial rewards or bonuses are also being publicized through telephone, leaflets, brochures, event booths at office buildings and Facebook adver...
Recently, the SEC has been notified that some private sector entities have used the SEC’s response letters as references for other persons in various transactions, possibly providing information that differed from what was discussed with the SEC or existed during a different timeframe from the time when the SEC considered the matter. Such use is considered to be for wrong purposes. Therefore, the SEC urges the private sector to exercise caution and refrain from using response letters in such man...
According to public referrals, certain people are suspicious of, or solicited by, Tradenance Incorporation Limited. Its advertising materials published via websites and Facebook claim that highly advanced technologies from overseas can generate high returns for investors on a daily basis and even higher gains if the existing investors successfully solicit others to join the investment scheme. The public should be aware that Tradenance Incorporation Limited is not on the SEC approved li...
Following public referrals and the SEC’s further inspection, it was found that investment in the aforesaid digital tokens had been solicited online via several social media channels such as website, Facebook, Line and YouTube. The public should be aware that none of the three digital assets or ICOs have applied for or obtained an approval from the SEC. Thus, anyone receiving information or solicited to invest in such digital assets is strongly advised to consider the associated risks carefully a...
The warning came after the SEC had received information from the concerned public and stakeholders who noticed that unlicensed business operators in the securities and digital asset sectors, including foreign digital asset business operators, were soliciting the public to make investments with, or use services of, such unlicensed entities at a financial technology exhibition held at a shopping center on September 27, 2023.The SEC conducted an onsite inspection and gathered evidence in this regar...
With reference to the recent occurrence, a foreign private digital wallet service provider has solicited investors in Thailand via social media to trade digital assets by linking investor trading activities with another foreign digital asset trading platform and allowing payment for the transactions made in Thai baht through Prompt Pay and Thai QR. Such provision of services may be deemed the undertaking of digital asset business without license, subject to the offenses under the Emergenc...
However, the rules do not prohibit digital asset brokers from providing meme token services to clients on the condition that they must act as broker or agent in trading and exchanging digital assets for clients, and must ensure that clients receive the best execution terms from various sourced exchanges to which the brokers have linkage. The SEC reiterates that any entity holding both digital asset exchange and brokerage licenses intending to offer meme token trading services must send such tr...