Cases Settled by the Settlement Committee

No.
Meeting Date
Meeting No.
Order No.
Name of Offender
Section
Relevant Law
Summarized Facts
Press Release
Amount of Fines (Baht)
Remarks

1

28/03/2018 

3/2018 

12/2018 

News Network Corporation Public Company Limited 

33 

SEC Act 

News Network Corporation Public Company Limited (NEWS) offer for sale newly issued securities shares for a private placement without obtaining a prior approval from the SEC. 

29/2018
 

500,000.00  

 

2

28/03/2018 

3/2018 

13/2018 

Mr. Arak Ratboriharn 

300 

SEC Act 

Mr. Arak Ratboriharn, chief executive officer and authorized director responsible for the operation of News Network Corporation Public Company Limited shall be liable for News Network Corporation Public Company Limited offer for sale newly issued securities shares for a private placement without obtaining a prior approval from the SEC. 

29/2018
 

500,000.00  

 

3

28/03/2018 

3/2018 

14/2018 

Asia Wealth Securities Company Limited 

113 

SEC Act 

Between December 12, 2016 and December 27, 2017; Asia Wealth Securities Company Limited, as a securities broker, failed to comply with rules, conditions, and procedures specified in the notification of the Capital Market Supervisory Board by failing to put in place a sufficient and effective operating system to ensure that a person responsible for introducing services acknowledges and comprehends information relating to capital market products well and would be able to instruct them to a client; and failed to provide measures for preventing conflict of interests.  

 

456,000.00  

 

4

28/03/2018 

3/2018 

14/2018 

Asia Wealth Securities Company Limited 

113 

SEC Act 

Between December 12, 2016 and December 27, 2017; Asia Wealth Securities Company Limited, as a securities broker, failed to comply with rules, conditions, and procedures specified in the notification of the Capital Market Supervisory Board by putting in place an insufficient system for monitoring and supervising its investment consultants to perform duties regarding accepting trading orders and giving advices to the client correctly, thoroughly, reasonably and without being misleading. 

 

684,000.00  

 

5

28/03/2018 

3/2018 

15/2018 

Mr. Thaveechat Churanggool 

246 

SEC Act 

Between 22 March 2017 to 21 April 2017 Mr. Thaveechat Churanggool, failed to report to the SEC Office the acquisition of NOK Airlines Public Company Limited (?NOK?) securities which caused his aggregate holding of NOK shares reached or passed five percent of the total number of voting rights of NOK within the period specified in the notification of the Capital Market Supervisory Board. 

 

13,000.00  

 

6

18/04/2018 

4/2018 

16/2018 

Mr.Suphanan Rittiphairoj 

300 

SEC Act 

Mr. Suphanan Rittiphairoj, the Chief Executive Officer responsible for the operation of Inter Far East Energy Corporation Company Limited (?IFEC?), was liable for IFEC?s failure to prepare and submit the defaults in Bill of Exchange, incident which affects or is likely to affect the rights and interests of securities holders or the decision-making on investment or the change in the securities price of the company within a specified period. 

 

31,600.00  

 

7

18/04/2018 

4/2018 

17/2018 

Mr. Surachai Suwanthanakul 

246 

SEC Act 

Between 26 December 2014 to 2 April 2015 , Mr. Surachai Suwanthanakul acquired TAPAC shares by himself and through others, causing his aggregate shareholding in TAPAC shares to reach or pass a multiple of 5 percent of the total number of voting rights of TAPAC amount four times, but he failed to report the acquisition of such TAPAC shares to the SEC Office within a period specified in the notification of Securities and Exchange Commission. Later he submitted such reports (Form 246-2) to the SEC Office on 17 April 2018. 

 

664,750.00  

 

8

18/04/2018 

4/2018 

17/2018 

Mr. Surachai Suwanthanakul 

247 

SEC Act 

On 16 February, 2015, Mr. Surachai Suwanthanakul acquired shares of TAPACO Public Company Limited (TAPAC) by himself and through others, causing his aggregate shareholding in TAPAC shares to exceed trigger point at 25 percent of the total number of voting rights of TAPAC, but Mr. Surachai failed to comply with tender offer rules specified by the Capital Market Supervisory Board by virtue of Section 247 of the Securities and Exchange Act B.E. 2535 . 

 

1,570,000.00  

The amount of fines does not include daily fines starting from the day following settlement date to the day Mr. Surachai properly complies with law within the period set forth by Settlement Committee. 

9

16/05/2018 

5/2018 

18/2018 

Inter Far East Energy Corporation Company Limited (?IFEC") 

Section 57(6) 

SEC Act 

Inter Far East Energy Corporation Company Limited (?IFEC?), was liable for its failure to prepare and submit the defaults in Bill of Exchange, incident which affects or is likely to affect the rights and interests of securities holders or the decision-making on investment or the change in the securities price of the company within a specified period. 

 

50,560.00  

 

10

16/05/2018 

5/2018 

19/2018 

Mr. Sorapoj Techakraisri 

59 

SEC Act 

Between 3 August, 2017 to 11 October, 2017 Mr. Sorapoj Techakraisri, Chief Executive officer and Director of Pace Development Corporation Public Company Limited (?PACE?) changed his holding of PACE securities for 12 times but failed to prepare and disclose all reports on changes in his holding to the SEC Office within the period specified in the notification of the Capital Market Supervisory Board. He later filed the reports (Form 59-2) to the SEC Office on 21 February, 2018. 

 

118,650.00  

 

11

20/06/2018 

6/2018 

20/2018 

Mr. Suvit Pipatvilaikul 

246 

SEC Act 

Mr. Suvit Pipatvilaikul failed to report to the SEC Office the acquisition or disposal of News Network Corporation Public Company Limited (NEWS) shares and Polaris Capital Public Company Limited (POLAR) shares held by his nominee within the period specified in the notification of the Capital Market Supervisory Board after he acquired or disposed both NEWS shares (between December 6, 2013 and September 15, 2016) and POLAR shares (between July 21, 2014 and June 30, 2015) which caused his aggregate holding of NEWS shares and POLAR shares reached or passed five percent of the total number of voting rights of NEWS and POLAR. He later partially filed the accurate reports (Form 246-2) to the SEC Office on February 8, 2017. However he still has to file accurate reports (Form 246-2) of some of his holding of NEWS shares and POLAR shares. 

 

2,313,600.00  

The amount of fines does not include daily fines starting from the day following settlement date to the day the company properly complies with law and regulation within the period set forth by Settlement Committee. 

12

20/06/2018 

6/2018 

21/2018 

Mr.Khampol Viratepsuporn 

246 

SEC Act 

Mr. Khampol Viratepsuporn failed to report to the SEC Office the acquisition or disposal of News Network Corporation Public Company Limited (NEWS) shares and Polaris Capital Public Company Limited (POLAR) shares held by his nominee within the period specified in the notification of the Capital Market Supervisory Board after he acquired or disposed both NEWS shares (on May 26 - 27, 2014) and POLAR shares (on November 27, 2014 and on January 9, 2015) which caused his aggregate holding of NEWS shares and POLAR shares reached or passed five percent of the total number of voting rights of NEWS and POLAR. He later filed the accurate reports (Form 246-2) to the SEC Office on March 30, 2018. 

 

861,300.00  

 

13

20/06/2018 

6/2018 

22/2018 

Mr. Ratch Sodsatit 

283 paragraph 1 

SEC Act 

Mr. Ratch Sodsatit, the Chief Investment Committee of Asset Plus Fund Management Company Limited , (Asset Plus), responsible for the operation of Asset Plus, failed to perform his duty of care as the Chief Investment Committee and the executive responsible for the operation resulting in Asset Plus?s violation of section 117. Between December 20, 2016 and August 16, 2017, Asset Plus failed to comply with the rules, conditions, and procedures specified in the notifications of the Capital Market Advisory Board by failing to put in place a sufficient and effective system for analyzing quantitative data and qualitative data of unrated debt instruments before investing in the debt instruments. Furthermore, Asset Plus failed to demonstrate that the investment decisions it made have been prudently considered that the transactions entailed the best interest for clients and that the transactions have been dealt similarly to arm?s length transaction basis due to the fact that Asset Plus did not provide evidentiary documentation that demonstrates facts representing such reasonable ground for entering into such transactions and maintain the evidentiary documentation retrievable for inspection by the SEC Office.  

 

400,000.00  

 

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