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The SEC sanctions three investment consultants



Monday 25 May 2015 | No. 64 / 2015


Bangkok, May 25, 2015 ? The SEC suspended {A}, {B} and {C}, the investment consultants of Finansia Syrus Securities Public Company Limited. Following the examination report of Finansia Syrus Securities Public Company Limited, the SEC further probed into the case and found that for the period of more than one year, Tanya, a capital market investment consultant, submitted a number of securities and derivatives trading orders on behalf of a client. She admitted making trading decisions and sometimes submitting internet trading orders on behalf of the client. Moreover, {B} and Kantanapat, the securities investment consultants who were in charge of this client for two consecutive periods of time, aided or abetted {A} in trading on behalf of the client as the client was not keen on investment and allowed Tanya to trade securities on client's behalf. In addition, it was found that trading orders were submitted by {A}, {B} or Kantanapat, or via internet in the approximate periods and sometimes were the orders for the same securities at the same prices. Disguising that the confirmation on security deposit was made by the client was failure to perform duties with honesty whereas trading securities and derivatives on behalf of client was failure to perform duties with responsibility and due care as the capital market professional under the Notifications of Capital Market Supervisory Board concerning personnel in the capital market*, the SEC, therefore suspended the approval as capital market investment consultant of {A} for 9 months. Having considered that she had already been suspended by her employer for 3 months, the suspension imposed by the SEC shall remain 6 months. Also, the SEC imposed 40-day suspension on the approval as securities investment consultants on {B} and {C}. The suspension of three investment consultants has been effective from May 26, 2015. *Clauses 20(1) and (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(1) and (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. 64 / 2015 Monday 25 May 2015
The SEC sanctions three investment consultants

Bangkok, May 25, 2015 ? The SEC suspended {A}, {B} and {C}, the investment consultants of Finansia Syrus Securities Public Company Limited. Following the examination report of Finansia Syrus Securities Public Company Limited, the SEC further probed into the case and found that for the period of more than one year, Tanya, a capital market investment consultant, submitted a number of securities and derivatives trading orders on behalf of a client. She admitted making trading decisions and sometimes submitting internet trading orders on behalf of the client. Moreover, {B} and Kantanapat, the securities investment consultants who were in charge of this client for two consecutive periods of time, aided or abetted {A} in trading on behalf of the client as the client was not keen on investment and allowed Tanya to trade securities on client's behalf. In addition, it was found that trading orders were submitted by {A}, {B} or Kantanapat, or via internet in the approximate periods and sometimes were the orders for the same securities at the same prices. Disguising that the confirmation on security deposit was made by the client was failure to perform duties with honesty whereas trading securities and derivatives on behalf of client was failure to perform duties with responsibility and due care as the capital market professional under the Notifications of Capital Market Supervisory Board concerning personnel in the capital market*, the SEC, therefore suspended the approval as capital market investment consultant of {A} for 9 months. Having considered that she had already been suspended by her employer for 3 months, the suspension imposed by the SEC shall remain 6 months. Also, the SEC imposed 40-day suspension on the approval as securities investment consultants on {B} and {C}. The suspension of three investment consultants has been effective from May 26, 2015. *Clauses 20(1) and (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(1) and (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.