Bangkok, December 9, 2014 - The SEC suspended {A}, a capital market investment consultant of Maybank Kim Eng Securities (Thailand) Plc., for 6 months.

After receiving a client's complaint against {A}, the SEC further probed into the case and found that {A} persuaded his client to invest in derivatives contracts by exaggerating return from investment. He had prepared his own documents for giving investment advice without any reference from analysis report or certification of Maybank Kim Eng Securities (Thailand) Plc. Certain statements contained in the said could make the client believe that he will not lose the money if making investment decision on the advice. Furthermore, {A} failed to immediately submit orders to close out derivatives positions as directed by the client, causing the client to suffer loss.

Failure to give proper investment advices on generally accepted professional standards, guarantee returns from investment and failure to carry out order of the client were 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 capital market investment consultant for 6 months. Taking into account that {A} had already been suspended by his employer for a month 7 days, however, the suspension imposed by the SEC shall remain 4 months 23 days, effective from December 11, 2014.

Note:  *Clauses 20(2) of the Notification of Capital Market Supervisory Board No. TorLorThor. 3/2555 which was prohibited characteristics of personnel in the capital market business under Clause 6(1) of the Notification of Capital Market Supervisory Board No. TorThor/Nor/Khor. 37/2553 re: Prohibitions for Personnel of Business Operators and in violation of Clauses 23(2) which was the prohibited characteristics of the personnel in the capital market business under Clause 31(1) 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 said two notifications.