The Thailand Securities and Exchange Commission announced that its Civil Sanction Committee has imposed civil sanctions on Suthee Siripornpitak and Peeranut Siripornpitak for manipulating the share price of RPCG Public Company Limited (RPC). The measures require civil monetary penalties and related payments totaling THB 71,729,832, along with prohibitions on securities and derivatives trading and on serving as directors or executives of securities-issuing companies or securities companies for specified periods. The SEC’s action follows a referral from the Stock Exchange of Thailand and an investigation that found the pair jointly manipulated RPC’s share price during afternoon trading sessions between 18 and 31 August 2021 using interconnected transactions and accounts, including orders placed by Suthee through an account in Peeranut’s name and coordinated selling in Peeranut’s other account. Suthee must pay THB 71,016,984 and is suspended from trading for 14 months and barred from director or executive roles for 28 months, while Peeranut must pay THB 712,848 and is suspended from trading for 8.5 months and barred for 17 months. The sanctions take effect when the offenders sign consent letters agreeing to comply; if consent is refused, the SEC will refer the matter to the public prosecutor for a Civil Court lawsuit seeking the maximum applicable civil sanctions, not lower than those specified by the committee. Any civil penalties and compensation are to be remitted to the Ministry of Finance as public revenue.

Original source View in tracker