Bangkok--4 Dec--SEC
The SEC suspended Surapee Kunkao of Finansia Syrus Securities PLC for four months and 15 days; and also suspended Natthakrit Hiranphattrachot of Hua Seng Heng Gold Futures Co., Ltd. for three months, effective from December 4, 2012.
Following an investor complaint against Surapee Kunkao, the SEC probed into the case and found that she had been authorized by her client to make trading decisions on the client’s behalf and then inform the client afterward. Surapee admitted that her client had authorized her to help adjust the client’s investment portfolio to cut losses in the account. She also confirmed the trading with her client regularly as well as reported to her client on the summary of profit and loss on a monthly basis. On March 12, 2012, Surapee made trading decisions without the client’s instruction and payment for such trading was made from the client account by Surapee without the knowledge of the client.
The Natthakrit Hiranphattrachot case was also lodged by an investor. The SEC’s finding from an examination of conversation records indicated that Natthakrit had obtained authorization to trade gold futures for the client. The client then acknowledged and accepted the trading as reported by him without any enquiries.
The acts of Surapee and Natthakrit were in violation of Clause 20(2) of the Notification of the Capital Market Supervisory Board No. TorLorThor. 3/2555 Re: Approval for Personnel of Business Operator to Perform Duties of Analyzing Investment and Giving Investment Advice dated January 18, 2012. In this regard, the SEC suspended Surapee for six months. Taking into account that she has already been suspended by her employer for one month and 15 days, the suspension imposed by the SEC shall therefore remain four months and 15 days. Meanwhile, Natthakrit is suspended from duty for three months.