The Thailand Securities and Exchange Commission has revoked the approval of Mr. Soontorn Thamaset as an investment consultant and imposed a four-year ban on any future applications for approval as capital market business personnel, after finding he failed to perform his duties with honesty and good faith while employed by One Asset Management Limited. Following an inspection report from One and the SEC’s investigation, the misconduct was found to have occurred from 2012 to 28 June 2024 and included requesting and using a client’s mutual fund trading account to trade mutual funds under One’s management for his own benefit (with the client’s consent), signing the client’s mutual fund redemption order form himself, and changing the client’s contact address to One’s address, which resulted in the client not receiving transaction-related documents. The SEC treated this conduct as a prohibited characteristic under the relevant Capital Market Supervisory Board notification, revoked his approval as an investment consultant for Complex Products Type 2, and set the four-year period effective from 28 April 2026; in determining the sanction period, it considered factors including the individual’s role and conduct, penalties already imposed, damages or benefits, cooperation or obstruction, and records indicating unsuitability. The SEC also reminded investors not to allow others to open or use mutual fund trading accounts in their name and to review transaction confirmations and dispute any transactions they did not place with the relevant asset management company.
Thailand Securities & Exchange Commission 2026-04-27
Thailand Securities and Exchange Commission revokes Soontorn Thamaset’s investment consultant approval and bars reapplication for four years over misuse of a client mutual fund account
The Thailand Securities and Exchange Commission has revoked the approval of Mr. Soontorn Thamaset as an investment consultant for Complex Products Type 2 and imposed a four-year ban on future approval as capital market business personnel, effective from 28 April 2026. The action follows findings that, between 2012 and 28 June 2024 while at One Asset Management Limited, he used a client’s mutual fund trading account for his own benefit, signed the client’s redemption order, and changed the client’s contact address, conduct deemed prohibited under the relevant Capital Market Supervisory Board notification.