to Bangkok Bank’s complaint report and SEC’s further investigation, it was
found that during 22 September 2017 – 24 February 2018, Supreeya, then a securities
investment consultant at the bank, committed wrongful acts against the investor’s
assets by using the investor’s subscription money for mutual fund investments
for her own interest without executing the subscription transactions as
originally intended by the investor. In so doing, she made and sent false
documents to the investor to lure the investor into believing that the
subscription transactions had been executed according to the investor’s orders.
She also counterfeited the investor’s signature to apply for an ATM card for the
banking account the investor had opened for the purpose of accepting redemption
money transfers, counterfeited the investor’s signature to execute redemption
transactions, and used the ATM card to withdraw money from the banking account
and spent it for her own benefit. Such wrongful acts incurred the total damage
of 6.95 million baht onto the investor.
has considered that Supreeya failed to perform duties with loyalty* by
committing wrongful acts against the investor’s assets, which was an offense
liable to revocation of approval as securities investment consultant. However,
the approval as securities investment consultant for Supreeya has already
expired since 31 December 2019. SEC has therefore prohibited her from
re-entering as capital market business personnel for a period of 10 years,
effective from 15 July 2020.
addition, SEC has found that this misconduct had been partially caused by Mrs.
Malee Sukklung, the bank’s branch manager at the time, whose negligence in inspecting
and supervising duty performance of Supreeya, her subordinate, in a reasonable
and proper manner, led to opportunities for committing misconduct. Malee’s act
was deemed a failure to comply with the Notification
of the Capital Market Supervisory Board.** SEC has therefore prohibited
Malee from performing duties as branch manager in charge of capital market
business and suspended her approval as investment consultant for Complex Instruments
Type 2*** and investment planner for one month and 10 days. However, the bank
had already penalized Malee by transferring her to perform duties unrelated to
provision of services for sales of securities products from 25 December 2018 to
16 April 2020, which exceeded the penalty period imposed by SEC. Therefore, it is
deemed that Malee has already served SEC’s punishment in full.
considering a punitive measure, SEC takes into consideration the following factors:
related roles and behaviors of the person(s) under consideration, the penalty
already served, the impacts, damage or benefits generated, rectification or
other actions benefiting or hindering SEC’s operation, and the record or other
past behaviors demonstrating inappropriateness for acting as capital market
are strongly advised to always verify transaction confirmation documents to
make sure that they are truly used by the banks in charge to confirm unit
subscription. In case of doubts, investors should contact the banks’ client
service center or call SEC 24-Hour Public Service Center
Hotline at 1207.
* Pursuant to Clause 23(1) and the prohibited characteristics of
personnel in the capital market business under Clause 31(1) 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, as amended by
the Notification of the Capital Market Supervisory Board No. Tor Lor Thor.
48/2560 Re: Rules on Personnel in the Capital Market Business (No. 7) dated
30 August 2017.
prohibited characteristics of capital market business personnel under Clause
31(2) of the Notification of the Capital
Market Supervisory Board No. Tor Lor Thor. 8/2557, as amended by the Notification of the Capital Market
Supervisory Board No. Tor Lor Thor. 48/2560, and prohibited from performing
duties as other personnel in capital market business as approved by SEC under
Clause 30(4)(a) of the Notification of the Capital Market Supervisory Board No.
Tor Lor Thor. 8/2557, as amended.
*** An investment consultant for Complex Instruments
Type 2 is allowed to give advice to investors about capital market products
with non-complex features and investment units or debt securities with high
risks or complexity, e.g., investment units of mutual funds for institutional
investors or ultra-high net worth investors, investment units of mutual funds
investing in derivatives, hybrid products, and structured notes.