According to the SEC inspection findings, Asia Wealth Securities Company Limited had failed to maintain the minimum net capital (NC) as required by the SEC regulations since 14 November 2022 and could not rectify the problem within the specified period, which is deemed non-compliance with Clause 9(3) of the SEC Notification No. KorThor/Nor/Khor. 14/2551 Re: Approval for Undertaking of Derivatives Business dated 5 November 2008, and thus failure to maintain qualifications legally required of a derivatives business operator.

The SEC Board has therefore ordered a revocation of the company’s derivatives business license, Sor-1 type, for failure to maintain the required qualifications, effective 24 July 2023.

The SEC is responsible for ensuring derivatives business operators’ compliance with the applicable laws and regulations, in which they are required to maintain the specified qualifications at all times during their business undertakings and to be fit and proper for provision of services for the best interest of investors.

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Remarks:

* The Sor-1 type derivatives business license means a license to undertake derivatives business in various categories consisting of (a) derivatives brokerage, (b) derivatives dealing, (c) derivatives advisory service, and (d) derivatives fund management.

** Due to the revocation of its derivatives business license, the company has changed the name to be Asia Wealth 2023 Company Limited on 30 June 2023, to be in compliance with Section 95 of the Securities and Exchange Act B.E.2535 (1992).