Securities and Exchange Commission Thailand

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Recent Enforcement


Criminal Complaints Cases Settled Administrative Orders Administrative Sanctions

Criminal Complaints Filed by the Office of SEC

No.
Date of Complaint Filing
Name of Alleged Offender
Section
Relevant Law
Summarized Facts
Press Release
Results
Remarks

1

12/06/2018 Miss Kanchana Chakvichitsopon 312 SEC Act Miss Kanchana Chakvichitsopon and ten directors and formal directors of Energy Earth Public Company Limited (?EARTH?) committed or permitted another to make false entries or fail to enter any material statement in the EARTH?s Board Resolution no. 5/2560 on 21 July 2017, which is a document of or related to EARTH, to deceive investors and debtors to misunderstand that EARTH has total liabilities in excess of total assets and not to know the true and sufficient information about the increased debt of 26,000 million Baht.
062/2018
This case is in the process of inquiry by the inquiry official.  

2

12/06/2018 Mr. Eknarin Thammaraks 312 SEC Act Mr. Eknarin Thammaraks and ten directors and formal directors of Energy Earth Public Company Limited (?EARTH?) committed or permitted another to make false entries or fail to enter any material statement in the EARTH?s Board Resolution no. 5/2560 on 21 July 2017, which is a document of or related to EARTH, to deceive investors and debtors to misunderstand that EARTH has total liabilities in excess of total assets and not to know the true and sufficient information about the increased debt of 26,000 million Baht.
062/2018
This case is in the process of inquiry by the inquiry official.  

3

12/06/2018 Mr. Khajohnpong Khamdee 312 SEC Act Mr. Khajohnpong Khamdee and ten directors and formal directors of Energy Earth Public Company Limited (?EARTH?) committed or permitted another to make false entries or fail to enter any material statement in the EARTH?s Board Resolution no. 5/2560 on 21 July 2017, which is a document of or related to EARTH, to deceive investors and debtors to misunderstand that EARTH has total liabilities in excess of total assets and not to know the true and sufficient information about the increased debt of 26,000 million Baht.
062/2018
This case is in the process of inquiry by the inquiry official.  

4

12/06/2018 Mr. Phiboon Phihakendr 312 SEC Act Mr. Phiboon Phihakendr and ten directors and formal directors of Energy Earth Public Company Limited (?EARTH?) committed or permitted another to make false entries or fail to enter any material statement in the EARTH?s Board Resolution no. 5/2560 on 21 July 2017, which is a document of or related to EARTH, to deceive investors and debtors to misunderstand that EARTH has total liabilities in excess of total assets and not to know the true and sufficient information about the increased debt of 26,000 million Baht.
062/2018
This case is in the process of inquiry by the inquiry official.  

5

12/06/2018 Mr. Phipat Phihakendr 312 SEC Act Mr. Phipat Phihakendr and ten directors and formal directors of Energy Earth Public Company Limited (?EARTH?) committed or permitted another to make false entries or fail to enter any material statement in the EARTH?s Board Resolution no. 5/2560 on 21 July 2017, which is a document of or related to EARTH, to deceive investors and debtors to misunderstand that EARTH has total liabilities in excess of total assets and not to know the true and sufficient information about the increased debt of 26,000 million Baht.
062/2018
This case is in the process of inquiry by the inquiry official.  

6

12/06/2018 Mr. Phiroon Phihakendr 312 SEC Act Mr. Phiroon Phihakendr and ten directors and formal directors of Energy Earth Public Company Limited (?EARTH?) committed or permitted another to make false entries or fail to enter any material statement in the EARTH?s Board Resolution no. 5/2560 on 21 July 2017, which is a document of or related to EARTH, to deceive investors and debtors to misunderstand that EARTH has total liabilities in excess of total assets and not to know the true and sufficient information about the increased debt of 26,000 million Baht.
062/2018
This case is in the process of inquiry by the inquiry official.  

7

12/06/2018 Mr. Phisudhi Phihakendr 312 SEC Act Mr. Phisudhi Phihakendr and ten directors and formal directors of Energy Earth Public Company Limited (?EARTH?) committed or permitted another to make false entries or fail to enter any material statement in the EARTH?s Board Resolution no. 5/2560 on 21 July 2017, which is a document of or related to EARTH, to deceive investors and debtors to misunderstand that EARTH has total liabilities in excess of total assets and not to know the true and sufficient information about the increased debt of 26,000 million Baht.
062/2018
This case is in the process of inquiry by the special case inquiry official.  

8

12/06/2018 Mr. Somkiat Sukdheva 312 SEC Act Mr. Somkiat Sukdheva and ten directors and formal directors of Energy Earth Public Company Limited (?EARTH?) committed or permitted another to make false entries or fail to enter any material statement in the EARTH?s Board Resolution no. 5/2560 on 21 July 2017, which is a document of or related to EARTH, to deceive investors and debtors to misunderstand that EARTH has total liabilities in excess of total assets and not to know the true and sufficient information about the increased debt of 26,000 million Baht.
062/2018
This case is in the process of inquiry by the inquiry official.  

9

12/06/2018 Mr. Suriyaporn Bunchai 312 SEC Act Mr. Suriyaporn Bunchai and ten directors and formal directors of Energy Earth Public Company Limited (?EARTH?) committed or permitted another to make false entries or fail to enter any material statement in the EARTH?s Board Resolution no. 5/2560 on 21 July 2017, which is a document of or related to EARTH, to deceive investors and debtors to misunderstand that EARTH has total liabilities in excess of total assets and not to know the true and sufficient information about the increased debt of 26,000 million Baht.
062/2018
This case is in the process of inquiry by the inquiry official.  

10

12/06/2018 Mr. Thanawat Pratoomsuwan 312 SEC Act Mr. Thanawat Pratoomsuwan and ten directors and formal directors of Energy Earth Public Company Limited (?EARTH?) committed or permitted another to make false entries or fail to enter any material statement in the EARTH?s Board Resolution no. 5/2560 on 21 July 2017, which is a document of or related to EARTH, to deceive investors and debtors to misunderstand that EARTH has total liabilities in excess of total assets and not to know the true and sufficient information about the increased debt of 26,000 million Baht.
062/2018
This case is in the process of inquiry by the inquiry official.  

11

12/06/2018 Mr. Thongchai Watanasoponwong 312 SEC Act Mr. Thongchai Watanasoponwong and ten directors and formal directors of Energy Earth Public Company Limited (?EARTH?) committed or permitted another to make false entries or fail to enter any material statement in the EARTH?s Board Resolution no. 5/2560 on 21 July 2017, which is a document of or related to EARTH, to deceive investors and debtors to misunderstand that EARTH has total liabilities in excess of total assets and not to know the true and sufficient information about the increased debt of 26,000 million Baht.
062/2018
This case is in the process of inquiry by the inquiry official.  

12

11/06/2018 Mr. Chen Xiaoxiang 90 SEC Act Mr. Chen Xiaoxiang colluded with other alleged offenders in operating securities businesses of investment advisory without obtaining license from the SEC, in violation of the Securities and Exchange Act B.E. 2535 (1992), Section 90 and subject to sanctions under Section 289.
61/2018
This case is in the process of inquiry by the inquiry official.  

13

11/06/2018 Mr. Cheng Jia 90 SEC Act Mr. Cheng Jia colluded with other alleged offenders in operating securities businesses of investment advisory without obtaining license from the SEC, in violation of the Securities and Exchange Act B.E. 2535 (1992), Section 90 and subject to sanctions under Section 289.
61/2018
: This case is in the process of inquiry by the inquiry official.  

14

11/06/2018 Mr. Ke Xiwei 90 SEC Act Mr. Ke Xiwei colluded with other alleged offenders in operating securities businesses of investment advisory without obtaining license from the SEC, in violation of the Securities and Exchange Act B.E. 2535 (1992), Section 90 and subject to sanctions under Section 289.
61/2018
This case is in the process of inquiry by the inquiry official.  

15

11/06/2018 Mr. Lu Yangyin 90 SEC Act Mr. Lu Yangyin colluded with other alleged offenders in operating securities businesses of investment advisory without obtaining license from the SEC, in violation of the Securities and Exchange Act B.E. 2535 (1992), Section 90 and subject to sanctions under Section 289.
61/2018
This case is in the process of inquiry by the inquiry official.  

16

11/06/2018 Mr. Wu Jincheng 90 SEC Act Mr. Wu Jincheng colluded with other alleged offenders in operating securities businesses of investment advisory without obtaining license from the SEC, in violation of the Securities and Exchange Act B.E. 2535 (1992), Section 90 and subject to sanctions under Section 289.
61/2018
This case is in the process of inquiry by the inquiry official.  

17

11/06/2018 Mr. Xin Ye 90 SEC Act Mr. Xin Ye colluded with other alleged offenders in operating securities businesses of investment advisory without obtaining license from the SEC, in violation of the Securities and Exchange Act B.E. 2535 (1992), Section 90 and subject to sanctions under Section 289.
61/2018
This case is in the process of inquiry by the inquiry official.  

18

11/06/2018 Mr. Zhou Zhou 90 SEC Act Mr. Zhou Zhou colluded with other alleged offenders in operating securities businesses of investment advisory without obtaining license from the SEC, in violation of the Securities and Exchange Act B.E. 2535 (1992), Section 90 and subject to sanctions under Section 289.
61/2018
This case is in the process of inquiry by the inquiry official.  

19

04/06/2018 Mr. 16 DV Act  
056/2018
This case is in the process of inquiry by the inquiry official.  

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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

15/08/2018 

8/2018 

27/2018 

ASL Securities Company Limited 

113 

SEC Act 

Between April 3, 2017 and November 19, 2017; ASL Securities Company Limited, as a securities broker, failed to put in place sufficient operation and internal control systems regarding custody of client's asset as specified in the notification of the Capital Market Supervisory Board.  

 

612,000.00  

 

2

15/08/2018 

8/2018 

27/2018 

ASL Securities Company Limited 

113 

SEC Act 

Between June 1st, 2017 and July 12, 2017; ASL Securities Company Limited, as a securities broker, failed to properly record and maintain all conversations with clients regarding accepting trading orders and giving advice as specified in the notification of the Capital Market Supervisory Board.  

 

630,000.00  

 

3

15/08/2018 

8/2018 

26/2018 

Mr. Jajjai Dhammarungruang 

59 

SEC Act 

Between December 27, 2016 to June 9, 2017 Mr. Jajjai Dhammarungruang, Ex-Vice Chairman of Modernform Group Public Company Limited (?MODERN?) changed his holding of MODERN securities for 23 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 June 5, 2018. 

 

351,000.00  

 

4

18/07/2018 

7/2018 

25/2018 

KIATNAKIN BANK PUBLIC COMPANY LIMITED 

113 

SEC Act 

Between 12 December, 2016 to 14 December, 2017, Kiatnakin Bank Public Company Limited, a Limited Broker Dealer Underwriter (LBDU) failed to comply with the rules, conditions, and procedures as specified in the Notification of the Capital Market Supervisory Board due to the fact that the bank offer four term fund for sales including Phatra Enhanced Fixed Income 3M10 Fund (PHATRA EFI3M10) Phatra Enhanced Fixed Income 6M20 Fund (PHATRA EFI6M20) Phatra Enhanced Fixed Income 6M21 Fund (PHATRA EFI6M21) and Phatra Enhanced Fixed Income 6M22 Fund (PHATRA EFI6M22) but the bank did not provide measure to follow up those funds in case the investment in the portfolios are significantly different from the prospective investment appeared on fund factsheets which may cause damage to clients. 

 

886,000.00  

 

5

18/07/2018 

7/2018 

24/2018 

TMB BANK PUBLIC COMPANY LIMITED 

113 

SEC Act 

Between 12 December, 2016 to 17 November, 2017 TMB Bank Public Company Limited, a Limited Broker Dealer Underwriter (LBDU) failed to comply with rules, conditions and procedures specified in the notification of the Capital Market Supervisory Board by failing to report the appointment of the highest level responsible person in the compliance unit (Head of Compliance) to the SEC Office within the period specified in the notification of the Capital Market Supervisory Board. The company later reported that appointment to the SEC Office on 17 November, 2017.  

 

832,000.00  

 

6

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  

 

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 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. 

 

200,000.00  

 

8

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 June 12, 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 enough and effective system for analyzing quantitative data and qualitative data of unrated debt instruments before investing in the debt instruments.  

 

200,000.00  

 

9

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  

 

10

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  

 

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 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  

 

12

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  

 

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Administrative Orders
Under the Securities And Exchange Act B.E.2535 (1992) and the Derivatives Act B.E.2546 (2003)

There is no enforcement during the last three months.

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Administrative Sanctions
Under the Derivatives Act B.E.2546 (2003) and the Trust for Transactions in Capital Market Act B.E.2550 (2007)

No.
Date of Imposing the Administrative Sanction
Order No.
Name of the Person Subject to the Administrative Sanction
Type of Business
Relevant Law
Section
Summarized Facts
Administrative Sanctions
Press Release
Amount of Fines (Baht)
Remarks

1

08/08/2018 

Administrative Fine Panel ส 1/2561 

Hua Seng Heng Gold Futures Company Limited 

Derivatives Agent 

DV Act 

18 

Between May 1, 2017 and August 22, 2017; Hua Seng Heng Gold Futures Company Limited, as a derivatives agent, failed to comply with rules, conditions, and procedures specified in the notification of the Capital Market Supervisory Board by putting in place an insufficient procedure to file report on net liquid capital. 

Administrative Fine 

 

378,000.00 

 

2

08/08/2018 

Administrative Fine Panel ส 2/2561 

Apple Wealth Securities Public Company Limited 

Derivatives Agent 

DV Act 

18 

 

Administrative Fine 

 

90,000.00 

 

3

08/08/2018 

Administrative Fine Panel ส 2/2561 

Apple Wealth Securities Public Company Limited 

Derivatives Agent 

DV Act 

18 

 

Administrative Fine 

 

225,000.00 

 

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Note : 
      - Filing a criminal complaint begins criminal proceedings. The criminal case will be subject to the inquiry official, the public prosecutor, or/ and the court's discretion.
      คลิกที่นี่เพื่อเรียกดูขั้นตอนการกล่าวโทษต่อพนักงานสอบสวน
      - Administrative sanctions disclosed on the website may not be final because the person subject to the administrative sanction may file an appeal against the administrative sanction with the Securities and Exchange Commission or file a case with the Administrative Court.
      Click here to view a flowchart of the Appeal Filing Procedure and a brief explanation.


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