Bangkok, December 8, 2014 - The SEC suspended {A}, a capital market investment consultant and investment planner for six months. She was an Assistant Managing Director of {X1} Co., Ltd., while the misconduct occurred.

Following a report of the Stock Exchange of Thailand, the SEC further probed into the case and found that {A} activated an inactive securities trading account of a client in order to submit a selling order for the securities in such account. It was found that prior to the transaction, {A} had learnt of the identity of the securities' beneficial owner who was not the account owner. Nonetheless, she neither examined KYC/CDD documents of the client and the beneficial owner, nor recorded the beneficial owner's identity. In this case, the beneficial owner was an executive and a shareholder of the company issuing the securities sold in the above transaction.

Failure to conduct KYC/CDD process to verify and record the beneficial owner's identity, despite learning of such identity, was in violation of the Notifications of Capital Market Supervisory Board concerning personnel in the capital market*. Therefore, the SEC sanctioned Benjawan from her duty as the personnel in the capital market and suspended her approval of the capital market investment consultant and investment planner for 6 months, effective from December 9, 2014.

Note: *Clause 23(1) and prohibited characteristics of personnel in the capital market business under Clause 31(1) of 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 said two notifications. In addition, the revocation of an approval as investment consultant is one of the prohibited characteristics of personnel in the capital market under Clause 30(5) of No.TorLorThor. 8/2557.