Detail Content
SEC Complaint Center
Complaint Handling Procedure
How to file a complaint: Please provide important information and supporting evidence to SEC Complaint Center. This includes the followings;
1. Personal information of the complainant, e.g., full name, mailing address and phone number;
2. Power of Attorney form in case of authorizing another person to file complaint;
3. Details of the person against whom the complaint is filed, i.e., full name, mailing address, phone number of intermediary / listed company/ person(s) under the SEC supervision;
4. Details of the complaint (Please identify clearly), i.e., objective and details of the complaint, documents and other evidence, for instance, trading account, pay-in slip, transfer-deposit-withdrawal slips, statement report, solicitation documents/contracts, and a certified copy of personal checks and other evidence relevant to and useful for the SEC inspection;
5. Complaints with other agencies, i.e., please specify whether or not you have filed a complaint / tip regarding the same matter with other agencies, for instance, the Office of the Consumer Protection Board, the Bank of Thailand, the Ministry of Commerce, the Royal Thai Police or the Court, for the benefit of coordinating and handling your complaint.
Guidelines for filing a complaint
● In case of a complaint related to services of a securities or asset management company under the SEC supervision, first of all, the complainant should contact the compliance unit of the company directly because the compliance unit is authorized to monitor staff operations according to the relevant rules and regulations, including complaint handling, coordination and reporting to the SEC in case of matters liable to violation of the governing laws;
● In case the company ignores or fails to provide a satisfactory solution and the matter is liable to violation of the laws enforced by the SEC, a complaint may also be submitted to SEC Complaint Center. The list of the licensed intermediaries is available here.
● A claim for damages should be made directly to the compliance unit of the company in charge; otherwise, a civil lawsuit is an option. The SEC has no authority to handle a claim for compensation or proceed with a civil dispute. Should you need legal advice on such matters, please contact a lawyer or the Lawyers Council of Thailand under the Royal Patronage.
How SEC Complaint Center handles a complaint:
● SEC Complaint Center will commence handling of your complaint when it has been fully documented according to the SEC Complaint Procedure, which applies to all complaints in general. The complainant must provide the SEC with sufficient facts and related evidence for his or her own benefits; otherwise, the SEC may not be able to proceed;
● In case of matters under supervision of other laws, SEC Complaint Center will advise the complainant to make a complaint to the agency(s) who regulates such matters directly.
● Once a complaint or tip enters SEC Complaint Center Filing System, if the matter is under the SEC supervision and submitted with sufficient facts, details and evidence, SEC Complaint Center may ask the complainant to submit additional information. In some cases, the SEC may disclose relevant information (if necessary) to the persons involved and for the related parties to clarify or take necessary action. If the complainant does not wish to disclose such information, the SEC may not be able to proceed with the complaint;
● The SEC cannot disclose details of the investigative process to the complainant to prevent an impact on the consideration of the case. The results of the consideration will be sent to the complainant after the SEC investigation has been completed;
● In case of unfair securities trading (such as price manipulation, insider trading, and dissemination of false statements), the SEC may proceed through criminal fining or criminal complaint, and will disclose such case to the public in due course;
● Complaint or tip handling time depends on the complication of the case, documents and evidence received from the complainant, including the clarification of the person(s) against whom the complaint is filed, and whether an explanation is sufficient for further legal proceeding;
● In case of a dispute between an investor and an intermediary, the SEC needs to disclose relevant information to the persons involved and for the intermediary to clarify or take a necessary action;
● Any complaint whose main issue is under supervision of any other law is subject to the main regulator’s initial investigation. The SEC must await the investigative results and the regulator’s decision before taking its own further necessary action.
Notes
Making an initial and direct contact with the compliance unit of the securities / derivatives intermediary under complaint would allow the intermediary to rectify or take necessary action before further necessary action can be taken;
SEC treats all complaints equally, whether they are submitted by individuals or a group of individuals, and through any channels.