Thailand Securities and Exchange Commission has imposed civil sanctions on Mr Pakorn Mongkoltada for purchasing shares in Aqua Corporation Public Company Limited (AQUA) while in possession of inside information. The sanctions require payment totaling THB 19,339,187 and bar him from serving as a director or executive of securities issuers and securities companies for 14 months. The case followed a referral from the Stock Exchange of Thailand in June 2022 and the SEC’s investigation into trades made between 2 November 2021 and 25 January 2022, when Mr Pakorn was an AQUA director. The SEC found reasonable grounds that he held material non-public information about AQUA’s approval to sell ordinary shares of a subsidiary to Plan B Media Public Company Limited (PLANB) and its plan to buy PLANB shares, and traded AQUA shares before the information was disclosed to the Stock Exchange of Thailand on 26 January 2022 at 07:48. The Civil Sanction Committee imposed a package of civil penalty, compensation equal to the benefit received or that would have been received, and reimbursement of SEC investigative expenses, totaling THB 19,339,187. The 14-month prohibition takes effect when the offender signs a consent letter agreeing to comply with the civil sanctions. If he does not consent, the SEC will refer the case to the public prosecutor to file a Civil Court lawsuit seeking the maximum applicable civil sanctions, which will not be lower than those set by the Civil Sanction Committee; civil penalties and compensation will be remitted to the Ministry of Finance as public revenue.

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