Bangkok--10 Jul--SEC
The SEC strictly supervises investment consultants (marketing officers) of securities companies to prepare and keep complete records of client’s securities or derivatives trading orders. Failure to do so will therefore result in the SEC’s administrative actions. In this regard, the SEC on July 5, 2012 imposed administrative sanction on three investment consultants by suspending Sittichai Sngobsrijintana, an employee of Kiatnakin Securities Co., Ltd. and Tiwakorn Thammongkol, an employee of Phara Securities Plc. and also publicly reprimanding Patchrawan Watanasiri, for their failure in this matter.
The SEC found from its routine inspection that Suttichai frequently failed to record his clients’ securities trading orders as the same as Tiwakorn case as reported by his employer Phara Securities Plc. Both persons admitted that they took those orders via mobile phone. The SEC therefore suspended them from duty as approved investment consultant for one month.
For Patchrawan, the SEC received a report from her employer that she failed to record some of her client trading orders as well as incompletely prepared such documents as determined by the company. Thus, the SEC publicly reprimanded her for the mistake and recorded such behavior for future reference if breach of duty is found.
The aforesaid misconduct is in violation of Clause 20(3) of the Notification of Capital Market Supervisory Board No. TorLorThor. 3/2555 Re: Approval for Personnel of Business Operator to Perform Duty of Investment Analysis and Investment Consultant dated January 18, 2012.