Bangkok, 20 October 2016 - The SEC has suspended the approval as capital market investment consultant of {A} for 18 months for seeking benefits and making investment decisions for clients. She committed the misconducts while working at Globlex Securities Co., Ltd. and later at KTB Securities (Thailand) Co., Ltd.  

Following the inspection reports of Globlex and KTB and her clients? complaints, the SEC?s further investigation has revealed that while working at Globlex, {A} made trading orders for the securities and derivatives accounts of her clients who had given their usernames and passwords to {A} for executing their trading orders.

{A} later resigned from Globlex to work for KTB where she made trading orders in the derivatives accounts of several clients who had given her their usernames and passwords, as was similarly the case at Globlex. In so doing, {A} also made a profit sharing agreement with certain KTB clients. KTB has already terminated her employment.

{A}'s misconducts were deemed (1) seeking benefits from investors through her job position, (2) agreeing to trade securities or derivatives on her clients? behalf and (3) failing to perform duties or providing services honestly, as specified in the Notification of the Capital Market Supervisory Board*. The SEC has therefore ordered the 18-month suspension on {A}'s capital market investment consultant approval, effective from 21 October 2016.

In any case, investors should not disclose their usernames and passwords for investment consultants to execute trading orders on their behalf. Similarly, investment consultants must not seek benefits from investors by abusing their duty performance no matter with or without clients? consent, and must not ask for or accept any special benefit other than what is properly earned from the securities companies they work for.

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*Violation of Clause 20(1) and 20(2) of the Notification of the Capital Market Supervisory Board No. Tor Lor Thor. 3/2555 Re: Approval for Personnel of Business Operator to Perform Duties of Analyzing Investment and Giving Investment Advice dated 18 January 2012, which is deemed a prohibited characteristic of capital market business personnel under Clause 6(1) of the Notification of the Capital Market Supervisory Board No. TorThor/Nor/Khor. 37/2553 Re: Prohibited Characteristics of Personnel in Capital Market Industry dated 15 September 2010, which is deemed a failure to comply with Clause 23(1) and 23(2) and a prohibited characteristic of capital market business personnel under Clause 31(1) of the Notification of the Capital Market Supervisory Board No. Tor Lor Thor. 8/2557 Re: Rules on Capital Market Business Personnel dated 3 June 2014, which has replaced the first two notifications above.