Bangkok, January 14, 2015 - The SEC imposed a one month and ten days suspension on {A}, a securities investment consultant of Krungthai Bank PLC., for failure to inform complete and adequate information in materiality for client's investment decision making.

Following a report on the client's complaint filed by the Ministry of Finance, the SEC further probed into the case and found that {A} gave the client mutual fund investment advice describing that the principal would not be affected. The said advice was given, even though the client made investment in a mixed fund having medium to high risk level without  principal guarantee. He, additionally, did not give the client the fund prospectus before making the investment decision.

Failure to inform the client of complete and accurate information in materiality for the client's investment decision was considered failure to perform duties with responsibility and due care as the capital market professional which 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 a month and 10 days, effective from January 15, 2015.

*Clauses 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 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 dated September 15, 2010. It was in violation of Clauses 23(2) and 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 has been promulgated in replacement of the said two notifications.