Bangkok, February 11, 2015 ? The SEC suspended {A}, a securities investment consultant of KT ZMICO Securities Company Limited, for trading securities on behalf of client; failure to perform the duties with honesty by disguising that trading decisions were made by client; and seeking benefits during performance of duties.

Following the complaint lodged by client of KT ZIMICO Securities Company Limited, the SEC further probed into the case and found that {A} persuaded the client to open the securities trading account and traded securities on behalf of such client. It was found that {A} determined the securities, including the amount and price. He also asked the client to leave the ATS saving account with him so he could help the client trade securities. In addition, he rehearsed the client in submitting orders via mobile phone before re-submitting the orders via the phone recorder in order to make up the evidence that the client had made her own trading decision. The investigation found that {A} had submitted some trading orders and later asked the client to re-submit those orders via the phone recorder. Moreover, several transactions showed that the securities were traded intra-day at the price under or equal to the costs causing {A} to receive significantly higher amount of incentives.

Trading securities on behalf of the client, failure to perform the duties with honesty by concealing the securities trading was made from the client and seeking benefits from client during performance of duties 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 securities investment consultant for one year and six months. Having considered that {A} had already been suspended by his employer for one year and six days, the suspension imposed by the SEC shall remain five months and twenty four days, effective from February 12, 2015.

*Clauses 20(1) and (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. The actions were in violation of Clauses 23(1) and (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.