Sign In
SEC News
SEC sanctions five capital market personnel



Wednesday 10 September 2014 | No. 130 / 2014


Bangkok, September 10, 2014 - The SEC sanctioned five former capital market personnel of RHB OSK Securities (Thailand) Plc., where {A} was barred from holding any securities company management positions while his capital market investment consultant status was also suspended, effective from September 6, 2014. Three capital market investment consultants, namely {B}, {C} and {D} as well as a securities investment consultant, namely {E}, were suspended, effective from September 11, 2014.

The SEC's routine inspection of RHB OSK Securities (Thailand) Plc., found that {B}, {C}, {D} and {E} had prepared the securities trading reports for their customers by using trading order form (Form F8) despite those trading orders were not made in trading room. In addition, they failed to completely record a number of clients? securities trading orders.  Such actions were in violation of Clauses 23(1) and 23(3) of the Notification of the Capital Market Supervisory Board No. TorLorThor. 8/2557 Re: Rules on Personnel in Capital Market dated June 3, 2014; classified as prohibited characteristics of personnel in capital market according to Clause 31(1) of the same Notification.

Meanwhile, {A}, then a branch manager, failed to supervise his subordinates ({B}, {C} and {E}) in performing their duties causing the aforesaid wrongdoings in violation of law on securities and exchange and relevant rules; classified as prohibited characteristics of personnel in capital market according to Clause 31(4) of the aforesaid Notification.

The SEC therefore suspended capital market investment consultant status of {B}, {C}, {D}, and {E} for nine months. In case of {D} already been suspended by RHB OSK Securities (Thailand) Plc., for a month, the suspension imposed by the SEC shall remain eight months. For {A}, the SEC barred him from holding any securities company management positions as well as suspended his capital market investment consultant status for nine month. Considering that he has been subject to a month and thirteen day suspension by his former employer, however, the suspension period shall remain seven months and seventeen days. 












Building Confidence in the Capital Market
NEWS
Securities and Exchange Commission
Corporate Communication and Investor Service Department
Tel. (66)2033-9502-5 E-mail: press@sec.or.th
No. 130 / 2014 Wednesday 10 September 2014
SEC sanctions five capital market personnel

Bangkok, September 10, 2014 - The SEC sanctioned five former capital market personnel of RHB OSK Securities (Thailand) Plc., where {A} was barred from holding any securities company management positions while his capital market investment consultant status was also suspended, effective from September 6, 2014. Three capital market investment consultants, namely {B}, {C} and {D} as well as a securities investment consultant, namely {E}, were suspended, effective from September 11, 2014.

The SEC's routine inspection of RHB OSK Securities (Thailand) Plc., found that {B}, {C}, {D} and {E} had prepared the securities trading reports for their customers by using trading order form (Form F8) despite those trading orders were not made in trading room. In addition, they failed to completely record a number of clients? securities trading orders.  Such actions were in violation of Clauses 23(1) and 23(3) of the Notification of the Capital Market Supervisory Board No. TorLorThor. 8/2557 Re: Rules on Personnel in Capital Market dated June 3, 2014; classified as prohibited characteristics of personnel in capital market according to Clause 31(1) of the same Notification.

Meanwhile, {A}, then a branch manager, failed to supervise his subordinates ({B}, {C} and {E}) in performing their duties causing the aforesaid wrongdoings in violation of law on securities and exchange and relevant rules; classified as prohibited characteristics of personnel in capital market according to Clause 31(4) of the aforesaid Notification.

The SEC therefore suspended capital market investment consultant status of {B}, {C}, {D}, and {E} for nine months. In case of {D} already been suspended by RHB OSK Securities (Thailand) Plc., for a month, the suspension imposed by the SEC shall remain eight months. For {A}, the SEC barred him from holding any securities company management positions as well as suspended his capital market investment consultant status for nine month. Considering that he has been subject to a month and thirteen day suspension by his former employer, however, the suspension period shall remain seven months and seventeen days.