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SEC revokes approval of a capital market investment consultant



Tuesday 2 June 2015 | No. 69 / 2015



Bangkok, June 2, 2015 - The SEC revoked an approval of  {A}, a capital market investment consultant, for using the client?s account for her own trading and illegal use of the client's assets. She was an employee of Globlex Securities Company Limited while the misconduct occurred.

Following the client?s complaint and inspection report of Globlex Securities Company Limited, the SEC further probed into the case and found conversation in the LINE Application that {A} traded securities for herself through the client?s securities trading account. During a certain period of time, she made a number of money transfers through the client?s ATS saving account to pay for the purchased securities. Moreover, {A} sold the client?s securities and use the money for setting-off the payment for the securities purchased for herself. She admitted to the client in the said conversation that she sold the client?s securities.

Using the client?s account for her own securities trading and illegal use of the client?s assets were in violation of the Notifications of Capital Market Supervisory Board concerning personnel in the capital market*, the SEC therefore revoked the approval of {A} as capital market investment consultant and set the period for acceptance of her re-application for approval as capital market personnel for 5 years. In this case, the period for acceptance of her re-application for approval as capital market personnel has been set in lieu of the revocation because her approved capital market investment consultant status has ended since December 31, 2014 without a renewal. The said period is effective from May 30, 2015.

* Clauses 20(1) 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 Clause 23(1) and the prohibited characteristics of the personnel in the capital market business of Clause 31(1) of the Notification 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.












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No. 69 / 2015 Tuesday 2 June 2015
SEC revokes approval of a capital market investment consultant


Bangkok, June 2, 2015 - The SEC revoked an approval of  {A}, a capital market investment consultant, for using the client?s account for her own trading and illegal use of the client's assets. She was an employee of Globlex Securities Company Limited while the misconduct occurred.

Following the client?s complaint and inspection report of Globlex Securities Company Limited, the SEC further probed into the case and found conversation in the LINE Application that {A} traded securities for herself through the client?s securities trading account. During a certain period of time, she made a number of money transfers through the client?s ATS saving account to pay for the purchased securities. Moreover, {A} sold the client?s securities and use the money for setting-off the payment for the securities purchased for herself. She admitted to the client in the said conversation that she sold the client?s securities.

Using the client?s account for her own securities trading and illegal use of the client?s assets were in violation of the Notifications of Capital Market Supervisory Board concerning personnel in the capital market*, the SEC therefore revoked the approval of {A} as capital market investment consultant and set the period for acceptance of her re-application for approval as capital market personnel for 5 years. In this case, the period for acceptance of her re-application for approval as capital market personnel has been set in lieu of the revocation because her approved capital market investment consultant status has ended since December 31, 2014 without a renewal. The said period is effective from May 30, 2015.

* Clauses 20(1) 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 Clause 23(1) and the prohibited characteristics of the personnel in the capital market business of Clause 31(1) of the Notification 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.