Bangkok, September 9, 2014 - The SEC suspended {A}, a securities investment consultant of Country Group Securities PLC., for trading on a securities trading account of the client without client's orders. 

Following a report on client's complaint filed by Country Group Securities PLC., the SEC probed into the case and found that {A} sent trading orders from the client's securities trading account without his client's orders.  Such trading was made in high volumes for several consecutive days, decreasing the number of shares in the said account. {A} then used the client's money to gradually purchase securities for the client's account. Besides, communication records between {A} and his client showed his promise to payback.

Making trading decisions on securities in the client's account without the client's order was in violation of the Notifications of Capital Market Supervisory Board concerning personnel in the capital market*, the SEC therefore suspended {A} from his duty as the approved securities investment consultant for 6 months. Owing to the fact that {A}'s approved securities investment consultant status only lasts until December 31, 2014 which is less than 6 months, the suspension was then imposed for his remaining approved status. The rest of suspension period was instead set as the period for acceptance of his re-application for approval as capital market personnel. The SEC's order has been in effect as from September 10, 2014.

Note:   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 and Clause 23(2) 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 have been promulgated in replacement of the Notification of Capital Market Supervisory Board No. TorLorThor. 3/2555.