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SEC suspends two investment consultants



Friday 13 March 2015 | No. 31 / 2015



Bangkok, March 13, 2015 - The SEC suspended two investment consultants of RHB OSK Securities (Thailand) Plc. {A}, a securities investment consultant, was suspended for trading securities on behalf of client and {B}, an equity investment consultant , was suspended for failure to perform duties with responsibility and due care as the capital market professional, respectively.

Following the complaint lodged by client and examination report of RHB OSK Securities, the SEC further probed into the case and found that {A}  traded securities on behalf of a client of {B}. {B} was a {A}'s subordinate and took care of such client's securities trading account for a certain period of time. {A} admitted that the client allowed him to make securities trading decisions and he has already compensated the client for any in accordance with the compromise agreement.

{B} (formerly named {C}), the investment consultant for the securities trading account of such client, failed to perform investment consultant?s duties as she allowed Suthee to submit securities trading orders for the client's securities account. She also received incentive payments from such trading.

Trading securities on behalf of the client and failure to perform duties with responsibility and due care as the capital market professional were in violation of the Notifications of Capital Market Supervisory Board concerning personnel in the capital market*, the SEC therefore set the period for acceptance of his re-application for approval as capital market personnel for 15 days. Having considered that {A} had already been suspended by his employer, the suspension imposed by the SEC is deemed to have been served. For {B}, the SEC suspended her from duty as the approved equity investment consultant for one month, effective from March 16, 2015.

*Clauses 20(2) of the Notification of Capital Market Supervisory Board No. TorLorThor. 3/2555 re: Approval for Personnel of Business Operators to Perform Duties of Analyzing Investment and Giving Investment Advice dated January 18, 2012 which was prohibited characteristics of personnel in the capital market business under Clause 6(1) of the Notification of Capital Market Supervisory Board No. TorThor/Nor/Khor. 37/2553 re: Prohibitions for Personnel of Business Operators dated September 15, 2010. The actions were in violation of Clauses 23(2) and the prohibited characteristics of the personnel in the capital market business under Clause 31(1) of the Notification of Capital Market Supervisory Board No. TorLorThor. 8/2557 re: Regulations for Personnel of Business Operators in the Capital Market dated June 3, 2014 which has been promulgated in replacement of the said two notifications.












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No. 31 / 2015 Friday 13 March 2015
SEC suspends two investment consultants


Bangkok, March 13, 2015 - The SEC suspended two investment consultants of RHB OSK Securities (Thailand) Plc. {A}, a securities investment consultant, was suspended for trading securities on behalf of client and {B}, an equity investment consultant , was suspended for failure to perform duties with responsibility and due care as the capital market professional, respectively.

Following the complaint lodged by client and examination report of RHB OSK Securities, the SEC further probed into the case and found that {A}  traded securities on behalf of a client of {B}. {B} was a {A}'s subordinate and took care of such client's securities trading account for a certain period of time. {A} admitted that the client allowed him to make securities trading decisions and he has already compensated the client for any in accordance with the compromise agreement.

{B} (formerly named {C}), the investment consultant for the securities trading account of such client, failed to perform investment consultant?s duties as she allowed Suthee to submit securities trading orders for the client's securities account. She also received incentive payments from such trading.

Trading securities on behalf of the client and failure to perform duties with responsibility and due care as the capital market professional were in violation of the Notifications of Capital Market Supervisory Board concerning personnel in the capital market*, the SEC therefore set the period for acceptance of his re-application for approval as capital market personnel for 15 days. Having considered that {A} had already been suspended by his employer, the suspension imposed by the SEC is deemed to have been served. For {B}, the SEC suspended her from duty as the approved equity investment consultant for one month, effective from March 16, 2015.

*Clauses 20(2) of the Notification of Capital Market Supervisory Board No. TorLorThor. 3/2555 re: Approval for Personnel of Business Operators to Perform Duties of Analyzing Investment and Giving Investment Advice dated January 18, 2012 which was prohibited characteristics of personnel in the capital market business under Clause 6(1) of the Notification of Capital Market Supervisory Board No. TorThor/Nor/Khor. 37/2553 re: Prohibitions for Personnel of Business Operators dated September 15, 2010. The actions were in violation of Clauses 23(2) and the prohibited characteristics of the personnel in the capital market business under Clause 31(1) of the Notification of Capital Market Supervisory Board No. TorLorThor. 8/2557 re: Regulations for Personnel of Business Operators in the Capital Market dated June 3, 2014 which has been promulgated in replacement of the said two notifications.