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SEC urges the public to exercise caution when using services of unlicensed business operators



Saturday 7 September 2024 | No. 181 / 2024


Bangkok, 7 September 2024 – The Securities and Exchange Commission (SEC) urges the public and investors to exercise caution when using investment services of unlicensed business operators in securities, derivatives and digital assets, including such business operators from abroad. Solicitation by these unlicensed entities to use their services through various channels, including on-ground exhibition booths, is beyond the SEC’s scope of supervision and carries the risk of fraud and scams.

Increasingly, exhibitions and events in the areas of financial technology or innovations in the capital market and the digital asset market have become more popular, attracting significant interest of the public and investors. The SEC encourages the investing public to be cautious when solicited to take investment advice or use services of unlicensed operators of securities, derivatives and digital asset businesses, including those from foreign countries, as they are not under the SEC’s supervision and may pose a risk of fraud and scams. Concurrently, the SEC urges event organizers to exercise caution when allowing unlicensed business operators to set up exhibition booths, as this may inadvertently facilitate illegal activities.   

The SEC has been monitoring and observing events or exhibitions involving booth setups related to investment advice and service solicitation. If it is found that solicitation activities are being conducted by unlicensed business operators or involve investment products not approved for sale, which are deemed illegal under the laws enforced by the SEC, the SEC will request that the event organizers close these booths and pursue legal action, which may result in both imprisonment and fines. If such activities contravene other laws, the SEC will collaborate with relevant authorities to take further action.    

In case of finding solicitation or being solicited for investment, the public can verify the names of the soliciting companies or individuals on the SEC website at www.sec.or.th  or SEC Check First application, which also display the names of business operators under the SEC’s supervision as well as the lists of securities and digital tokens approved for public offering. Additionally, the list of business operators who are not under the SEC’s supervision and the list of products that are not approved for public offering are also available at the Investor Alert page on the SEC website via this link: https://market.sec.or.th/public/idisc/th/InvestorAlert. Furthermore, leads on suspicious activities in the capital market can be notified to the SEC Complaint Center via Hotline 1207 or SEC Facebook Page or SEC Live Chat on the SEC website.  

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NEWS
Securities and Exchange Commission
Corporate Communication and Investor Service Department
Tel. (66)2033-9502-5 E-mail: press@sec.or.th
No. 181 / 2024 Saturday 7 September 2024
SEC urges the public to exercise caution when using services of unlicensed business operators

Bangkok, 7 September 2024 – The Securities and Exchange Commission (SEC) urges the public and investors to exercise caution when using investment services of unlicensed business operators in securities, derivatives and digital assets, including such business operators from abroad. Solicitation by these unlicensed entities to use their services through various channels, including on-ground exhibition booths, is beyond the SEC’s scope of supervision and carries the risk of fraud and scams.

Increasingly, exhibitions and events in the areas of financial technology or innovations in the capital market and the digital asset market have become more popular, attracting significant interest of the public and investors. The SEC encourages the investing public to be cautious when solicited to take investment advice or use services of unlicensed operators of securities, derivatives and digital asset businesses, including those from foreign countries, as they are not under the SEC’s supervision and may pose a risk of fraud and scams. Concurrently, the SEC urges event organizers to exercise caution when allowing unlicensed business operators to set up exhibition booths, as this may inadvertently facilitate illegal activities.   

The SEC has been monitoring and observing events or exhibitions involving booth setups related to investment advice and service solicitation. If it is found that solicitation activities are being conducted by unlicensed business operators or involve investment products not approved for sale, which are deemed illegal under the laws enforced by the SEC, the SEC will request that the event organizers close these booths and pursue legal action, which may result in both imprisonment and fines. If such activities contravene other laws, the SEC will collaborate with relevant authorities to take further action.    

In case of finding solicitation or being solicited for investment, the public can verify the names of the soliciting companies or individuals on the SEC website at www.sec.or.th  or SEC Check First application, which also display the names of business operators under the SEC’s supervision as well as the lists of securities and digital tokens approved for public offering. Additionally, the list of business operators who are not under the SEC’s supervision and the list of products that are not approved for public offering are also available at the Investor Alert page on the SEC website via this link: https://market.sec.or.th/public/idisc/th/InvestorAlert. Furthermore, leads on suspicious activities in the capital market can be notified to the SEC Complaint Center via Hotline 1207 or SEC Facebook Page or SEC Live Chat on the SEC website.  

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