Bangkok, January 30, 2014 - The SEC imposed a three-month suspension of approval on {A} of Maybank Kim Eng Securities (Thailand) Plc., Nakhon Ratchasima branch.

This follows a report from Maybank Kim Eng Securities (Thailand) Plc. that {A} had been authorized by two clients to make securities trading decisions on their behalf. Before this matter was reported to the company, {A} had told her branch manager that she had obtained such authorization and decided to trade by the instruction of clients? appointee or by her own deliberation. For a long period of time, she continually made trading decisions on the clients? behalf at a high trading volume and value. Later, the clients demanded her to compensate for losses incurred from trading. In addition, {A} admitted to trading in such manner by giving explanation to the SEC accordingly.      

In performing duties, investment consultants can send trading orders only when obtaining instructions from the clients. They are not allowed to make securities trading decisions on behalf of the clients, regardless of the client's permission or authorization. In this regard, {A}'s action was deemed as obtaining authorization from clients to make securities trading decision on behalf of client, in violation of Clause 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.

The SEC suspended approval granting to {A} as a capital market investment consultant for three months; according to the sanction guidelines. Taking into account that she has already been suspended by her employer for three months, the suspension imposed by the SEC is deemed to have been served.