The revocation followed Apple Wealth Securities’ inspection report regarding three clients’ complaints against Nutnicha and the SEC’s further investigation, which revealed Nutnicha’s misconduct as follows: 
 (1)  During February – March 2017, Nutnicha solicited a client to buy IPO shares of a company, claiming that she had the right to buy such shares as an employee of Apple Wealth Securities. She then asked the client to transfer the subscription money into her own banking account without actually using the money to buy such shares for the client;  
 (2)  In July 2017, Nutnicha borrowed shares of a company in a client’s trading account by asking the client to sell the shares and transfer the redemption money into her own deposit account. She claimed that she would use the money to invest in shares of another company as a joint investment with the client and would share capital gains with the client; however, she did not use the client’s money to invest in such shares, nor did she buy the original shares to return them to the client.
 (3)  In December 2017, Nutnicha borrowed money from a client, claiming that she would place shares as collateral when in fact she did not have the shares in possession, nor did she return the borrowed money to the client as agreed.

The misconduct of Nutnicha was failure to perform duties honestly by committing wrongful acts against clients’ assets, which was a violation specified in the Notification of the Capital Market Supervisory Board.*  The SEC therefore revoked the approval of Nutnicha as a branch manager and capital market investment consultant and banned her from applying for a new approval as capital market business personnel for a period of 10 years, effective from 14 March 2019.

Investors are advised to be careful and cast doubt on any solicitation that involves transfer of subscription money to personal bank accounts of investment consultants because such arrangement could be used as a channel for committing dishonest acts and it might lead to a big loss of money. In making an investment through a securities company, investors must transfer the subscription money to the securities company’s account only. In case of suspicion of trading transactions or investment consultants’ employee right to receive shares, investors should check with the compliance unit of the securities company directly to ensure clear details and verification.

                                                                                           _______________________
Remark:
* Clause 23(1) and deemed to be the prohibited characteristic of the personnel in the capital market business under Clause 31(1) of the Notification of the Capital Market Supervisory Board No. Tor Lor Thor. 8/2557 Re: Rules on Personnel in the Capital Market Business dated 3 June 2014, as amended by  the Notification of the Capital Market Supervisory Board No. Tor Lor Thor. 48/2560 Re: Rules on Personnel in the Capital Market Business (No. 7) dated 30 August 2017.