Bangkok, 13 December 2016 - The Criminal Fining Committee has imposed a separate, equal fine, totaling at 5,917,125 baht, on five joint principals in the manipulation of the Yong Thai Public Company Limited (YCI) share, namely (1) {A}, (2) {ฺB}, (3) {C}, (4) {D}, and (5) {E}.

Their offence was related to the earlier complaint filed with the Department of Special Investigation (DSI) on 14 September 2016 against three other offenders in the YCI manipulation case, as summarized below:  

During 10-27 September 2013, {F} colluded with the five persons above to use several trading accounts to trade YCI shares in concealment and on a continuous basis to mislead the public into believing that YCI shares were traded in big volumes. Such manipulation caused the price and the trading volume of YCI shares to be inconsistent with the normal market condition. In so doing, {F} was assisted by {G} and {H}, who allowed their separate trading accounts to be used for the YCI transactions in exchange for compensation. 

Such market manipulation was in violation of Section 243(1)(2) and Section 244 of the Securities and Exchange Act of 1992 (SEA) in conjunction with Section 83 and Section 86 of the Penal Code, and liable to the penalties under Section 296 of the SEA, i.e., imprisonment for up to two years or a fine not exceeding twice the amount of the benefits received or should have been received but not less than the minimum amount of 500,000 baht, or both.

On 9 December 2016, the five joint principals - {A} {B} {C} {D} and {E} - agreed to enter the criminal fining process and paid in full an equal fine of 1,183,425 baht each.

The acceptance of the fine penalty by most of the offenders will be used to furtherance the merit of the SEC's criminal complaint against {F} {G} and {H}.

In addition, {E}'s misconduct was liable to violation or failure to comply with professional duties, which is a prohibited characteristic of capital market business personnel*.

The SEC has therefore revoked the approval of {E} as capital market business personnel for 10 years, starting from 9 December 2016. A re-entry application will not be accepted until the revocation period ends.

* Violation of Clause 20(5) of the Notification of the Capital Market Supervisory Board No. Tor Lor Thor. 3/2555 Re: Approval for Personnel of Intermediaries to Perform Duties of Analyzing Investment and Giving Investment Advice dated 18 January 2012 is considered a prohibited characteristic of capital market business personnel under Clause 6(2) of the Notification of the Capital Market Supervisory Board No. TorThor/Nor/Khor. 37/2553 Re: Prohibited Characteristics of Capital Market Business Personnel dated 15 September 2010, which is non-compliance with Clause 23(5) and a prohibited characteristic of capital market business personnel under Clause 31(2) of the Notification of the Capital Market Supervisory Board No. Tor Lor Thor. 8/2557 Re: Rules on Personnel in the Capital Market Business dated 3 June 2014, which has replaced the first two Notifications above.