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SEC imposes administrative sanction on an investment consultant for misconduct against investors’ assets



Wednesday 15 January 2020 | No. 7 / 2020


Bangkok, 15 January 2020 – The SEC has imposed an administrative sanction on Ms. Niparporn Suepetch as a securities investment consultant for committing wrongful act against clients’ assets and having prohibited characteristics of personnel in capital market business. As a result, she is banned from re-entering the industry for a period of four years and nine months. She was working at Krungthai Zmico Securities Company Limited (formally named KT ZMICO Securities Company Limited) at the time of committing the misconduct.

Following a report from Krungthai Zmico and SEC’s further investigation, it was found that during 22 - 24 November 2017, Niparporn placed the right to IPO allocation of three clients to the clients who were her close relatives and friends instead. In so doing, she secretly used her supervisor’s computer to change the names of the persons having the right to such IPO allocation. Consequently, the true owners of such right suffered damage; however, Krungthai Zmico has already returned the right to the IPO allocation to the clients.

Niparporn’s misconduct against investors’ assets is deemed failure to perform duties responsibly with professional due care in violation of the Notification of the Capital Market Supervisory Board.* The SEC has therefore imposed the administrative sanction whereby her future application for approval as personnel in capital market business shall not be accepted for five years. In any case, since Krungthai Zmico has already suspended her from the role of investment consultant for three months, which is  counted as part of the five-year ban, SEC shall continue to ban her from re-entering the industry for another four years and nine months, starting from 15 January 2020. 

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* Clause 23(1) and prohibited characteristics of personnel in 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.
 
 












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No. 7 / 2020 Wednesday 15 January 2020
SEC imposes administrative sanction on an investment consultant for misconduct against investors’ assets
Bangkok, 15 January 2020 – The SEC has imposed an administrative sanction on Ms. Niparporn Suepetch as a securities investment consultant for committing wrongful act against clients’ assets and having prohibited characteristics of personnel in capital market business. As a result, she is banned from re-entering the industry for a period of four years and nine months. She was working at Krungthai Zmico Securities Company Limited (formally named KT ZMICO Securities Company Limited) at the time of committing the misconduct.

Following a report from Krungthai Zmico and SEC’s further investigation, it was found that during 22 - 24 November 2017, Niparporn placed the right to IPO allocation of three clients to the clients who were her close relatives and friends instead. In so doing, she secretly used her supervisor’s computer to change the names of the persons having the right to such IPO allocation. Consequently, the true owners of such right suffered damage; however, Krungthai Zmico has already returned the right to the IPO allocation to the clients.

Niparporn’s misconduct against investors’ assets is deemed failure to perform duties responsibly with professional due care in violation of the Notification of the Capital Market Supervisory Board.* The SEC has therefore imposed the administrative sanction whereby her future application for approval as personnel in capital market business shall not be accepted for five years. In any case, since Krungthai Zmico has already suspended her from the role of investment consultant for three months, which is  counted as part of the five-year ban, SEC shall continue to ban her from re-entering the industry for another four years and nine months, starting from 15 January 2020. 

                                                                                             ________________

* Clause 23(1) and prohibited characteristics of personnel in 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.