According to the SEC’s findings, between September and November 2018, Mrs. Kingkand received securities trading orders from three clients via mobile phone, for which the sources of the orders could not be recorded. She then prepared securities trading order documents (order tickets), which were intended for clients who placed orders at the trading room, and had the clients sign them as evidence in place of recording the true sources of the orders. These documents did not reflect the actual facts.

Mrs. Kingkand’s action above constituted a failure to perform duties with responsibility and professional due care, which is deemed a prohibited characteristic of personnel in the capital market business pursuant to the Notification of the Capital Market Supervisory Board.* The SEC has therefore suspended the approval of Mrs. Kingkand as a Type 1 Complex Instrument Investment Consultant** for seven months and 15 days, starting from 16 July 2025. 

In determining administrative sanctions, the SEC takes into account several factors, including the individual’s relevant roles and conduct; any penalties already imposed; the extent of damages or benefits resulting from the actions; any corrective measures or other actions that either support or hinder the SEC’s proceedings; and records or past demeanors indicating unsuitability to serve as personnel in capital market businesses.  

Mr. Anek Yooyeun, SEC Deputy Secretary-General and Spokesperson, said: “It is important to reiterate that securities companies and investment consultants are required to accurately record and retain the sources of securities trading orders so that the transactions can be reviewed at a later date. Accepting securities trading orders through channels where securities companies are unable to record the sources of the transactions, and preparing documents that do not reflect the true facts, may serve as a means to conceal improper conduct related to securities trading. The SEC thus finds it necessary to deter such conduct.”

In this regard, if investors find that the documents prepared by the securities company for their signature do not accurately reflect the true facts, they should not sign them and should notify the securities company through its complaint channels. Investors may also make inquiries at SEC Complaint Center or Hotline 1207 or SEC’s official Facebook Page: “สำนักงาน กลต,” or SEC Live Chat on the SEC website. 

Notes: 

* Failure to perform duties in accordance with Clause 23(2) constitutes a prohibited characteristic of personnel in the capital market business under Clause 31(1) of the Notification of the Capital Market Supervisory Board No. Tor Lor Thor. 8/2557 Re: Rules on Personnel in the Capital Market Business, dated 3 June 2014, as amended by the Notification of the Capital Market Supervisory Board No. Tor Lor Thor. 48/2560 Re: Rules on Personnel in the Capital Market Business (No. 7), dated 30 August 2017.  

** Type 1 Complex Instrument Investment Consultant refers to an investment consultant who gives investment consultation to investors on all types of capital market products not having complex characteristics as well as those having high-risk or complex characteristics, e.g., investment units of mutual funds offered to institutional or ultra-high net worth investors, investment units of mutual funds investing in derivatives, hybrid securities, structured notes, and derivatives.