Bangkok: The SEC has ordered a suspension of the approval of “Kingkan Thipwan” as an investment advisor for 7 months and 15 days due to failure to perform duties responsibly and carefully as a professional by preparing securities trading order documents that were not consistent with the truth. At the time of the offense, she was affiliated with KGI.
According to Thai News Agency, the Securities and Exchange Commission (SEC) found that between September and November 2018, Ms. Kingkan Thipwan, who at the time of the offense was working at KGI Securities (Thailand) Public Company Limited (KGI), received securities trading orders from 3 customers via mobile phone. This method could not record evidence of the origin of the trading orders, and she created securities trading order documents (ticket orders) intended for customers who came to trade at the trading room for customers to sign to use as evidence instead of recording the origin of the trading orders, which was not true.
Ms. Kingkan’s actions are considered a failure to perform duties with responsibility and prudence as a professional, which is a prohibited characteristic for personnel in the capital market according to the announcement of the Capital Market Supervisory Board. The SEC has therefore suspended the approval of Ms. Kingkan as a Type 1 Complex Investment Advisor for 7 months and 15 days, effective from July 16, 2025.
In considering the imposition of penalties, the SEC has taken the following factors into consideration: the role, involvement, and behavior of the person being considered, the penalties that the person has already received, the resulting damages or benefits, the correction or other actions that are beneficial to or obstruct the work of the SEC, and any other past history or behavior that shows unsuitability to be personnel in the capital market business.
Mr. Anek Yoo-yuen, Deputy Secretary-General and Spokesperson of the SEC, said that the SEC would like to reiterate that securities companies and investment advisors have a duty to record and store the source of trading orders accurately and truthfully so that the items can be examined later. Accepting securities trading orders through channels where securities companies cannot record the source of the items and prepare documents that are not true to the truth may be a way to conceal improper actions related to securities trading. The SEC therefore needs to prevent such actions.
In this regard, if investors find that the documents provided by the securities company for signing are not true, investors must not sign and please inform the securities company through the complaint channel or inquire at the “SEC Public Service Center” at tel. 1207 or the “SEC Office” Facebook page or SEC Live Chat on the SEC website.