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

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  

 

2

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  

 

3

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 held by his nominee within the period specified in the notification of the Capital Market Supervisory Board after he acquired or disposed NEWS shares (between December 6, 2013 and September 15, 2016) which caused his aggregate holding of NEWS shares reached or passed five percent of the total number of voting rights of NEWS. He later filed the accurate reports (Form 246-2) to the SEC Office on July 6, 2018. 

 

992,250.00  

 

4

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 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 POLAR shares (between July 21, 2014 and June 30, 2015) which caused his aggregate holding of POLAR shares reached or passed five percent of the total number of voting rights of POLAR. He later filed the accurate reports (Form 246-2) to the SEC Office on July 6, 2018.  

 

1,335,750.00  

 

5

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 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 POLAR shares (on November 27, 2014 and on January 9, 2015) which caused his aggregate holding of POLAR shares reached or passed five percent of the total number of voting rights of POLAR. He later filed the accurate reports (Form 246-2) to the SEC Office on March 30, 2018.  

 

402,450.00  

 

6

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 held by his nominee within the period specified in the notification of the Capital Market Supervisory Board after he acquired or disposed NEWS shares (on May 26 - 27, 2014) which caused his aggregate holding of NEWS shares reached or passed five percent of the total number of voting rights of NEWS. He later filed the accurate reports (Form 246-2) to the SEC Office on March 30, 2018. 

 

458,850.00  

 

7

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  

 

8

18/07/2018 

7/2018 

23/2018 

Solaris Asset Management Company Limited 

117 

SEC Act 

Between December 12, 2016 and June 27, 2017, Solaris Asset Management Company Limited, a fund management company, failed to comply with the rules, conditions, and procedures as specified in the Notification of the Capital Market Supervisory Board by failing to put in place a sufficient and effective system for analyzing quantitative data and qualitative data of unrated debt instruments which the company did not consider the key factors affecting the issuer's ability to pay principal and interest.  

 

1,935,000.00  

 

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