Bangkok, October 24, 2014 - The SEC suspended two capital market investment consultants namely {A}, a consultant of Bualuang Securities PLC., for trading securities on behalf of clients and {B}, a former consultant of Bualuang Securities PLC., for failure to completely record client's securities trading orders. 

Following a report from Bualuang Securities PLC., the SEC further probed into the case and found that {A} had been authorized by his clients to make securities trading decisions on the client's behalf. He submitted trading orders with high trading volume for a certain period of time. {A} proposed his clients the portfolio investment in advance and the clients accepted all transactions proposed. In addition, the recorded conversation showed that {A} specified securities, prices and amount to be traded while the clients merely accepted the transactions.

For {B} case, it was found that he failed to completely record the client's trading securities orders for a number of transactions; the misconduct of which he had previously committed. He admitted receiving the client's trading orders through LINE Application and mobile phone from time to time, after that he called the client to confirm the trading orders via the phone with call recorder.

Making securities trading decisions on behalf of client and failing to completely record client's securities trading orders were in violation of the Clauses 23(2) and (3) of the Notification of Capital Market Supervisory Board No. TorLorThor. 8/2557 dated June 3, 2014 (Notification No. TorLorThor. 8/2557) which was prohibited characteristics of personnel in the capital market business under Clause 31(1) of the Notification of Capital Market Supervisory Board No. TorLorThor. 8/2557. The SEC therefore suspended {A} from his duty as the approved capital market investment consultant for 6 months. As {A}'s approved capital market investment consultant status only lasts until December 31, 2014, his approved status was suspended until that date while the rest of suspension period was instead set as the period for acceptance of his re-application for approval as capital market personnel, effective as from October 27, 2014. For {B}'s case, the SEC suspended him from his duty as the approved capital market investment consultant for 2 months, effective from October 27, 2014.