Bangkok, March 18, 2015 ? The SEC suspended {A}, a securities investment consultant and a branch manager of Bangkok Bank Plc., for failure to inform the client of sufficient information which was material and likely to affect the client's benefits.

Following the complaint lodged by client and examination report of Bangkok Bank Plc., the SEC further probed into the case and found that the client redeemed the investment units of Bualuang Long-Term Equity Fund (B-LTF) as suggested by the bank's officers The redemption was in breach of a condition on investment unit holding period of at least 5 calendar years. Hence, the Revenue Department requested the return of tax amount previously deducted plus fines. {A} admitted that she did not review the client's redemption of BLTF units and thus did not inform the client that the holding period had not yet reached 5 calendar years, causing a violation of the specified condition and the client's loss of tax benefits.

Failure to give the information or warning to the client about material information which is likely to affect the client?s benefits was considered failure to perform the duties with responsibility and due care as market professionals under the Notifications of Capital Market Supervisory Board concerning personnel in the capital market*, the SEC therefore suspended {A} from her duty as the approved securities investment consultant for 4 months, effective from March 19, 2015. During the suspension period, moreover, the Bank must not allow her to perform the duty of branch manager, in relation to the capital market business.

*Clauses 20(2) of the Notification of Capital Market Supervisory Board No. TorLorThor. 3/2555 re: Approval for Personnel of Business Operators to Perform Duties of Analyzing Investment and Giving Investment Advice dated January 18, 2012 which was the 3rd category prohibited characteristics of personnel in the capital market business under Clause 6(1) of the Notification of Capital Market Supervisory Board No.TorThor/Nor/Khor. 37/2553 re: Prohibitions for Personnel of Business Operators dated September 15, 2010. The actions were in violation of Clauses 23(2) and the 3rd category prohibited characteristics of the personnel in the capital market business under Clause 31(1) of the Notification of Capital Market Supervisory Board No. TorLorThor. 8/2557 re: Regulations for Personnel of Business Operators in the Capital Market dated June 3, 2014 which has been promulgated in replacement of the said two notifications. Besides, as the suspension on approval of investment consultant was the 2nd category of the prohibited characteristics under Clause 30(5) of the Notification No. TorLorThor. 8/2557, during the suspension of the approval of securities investment consultant, the Bank shall not allow such person to perform the duty of branch manager in relation to the capital market business under the Clause 34(2) of the Notification No. TorLorThor. 8/2557