Bangkok, 5 May 2020 – SEC has suspended the approval for a securities investment consultant named {A}, an employee of Bangkok Bank Public Company Limited (BBL), for submitting false documents to the bank to help a client with the client’s consent and without the intention to conceal or hide information.
According
to BBL’s inspection report and SEC’s further investigation, it was found that
{A} had submitted false documents to the bank by signing on unit
subscription orders for the client in order to complete the transactions. The
client had given prior consent to her act claiming it was inconvenient to affix
signature in person at the time.
Despite
no intention to conceal information in the act caused by an external factor, {A}’s
submission of false documents to the bank in order to help the client was
deemed a failure to perform duties or provide services with loyalty pursuant to
the Notification of the Capital Market Supervisory Board.* SEC has
therefore suspended {A}’s approval as a securities investment consultant
for three months. However, since BBL has suspended her from performing duties
as an investment consultant for a longer period, it is deemed that {A} has
already served SEC’s suspension in full.
Investors
are strongly advised not to allow investment consultants or other persons to
sign on securities trading orders or other documents for themselves to prevent
possible damage.
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*
Pursuant to Clause 23(1) and the prohibited characteristics of 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.