The Thailand Securities and Exchange Commission announced that its Civil Sanction Committee has resolved to impose civil sanctions on Mr. Pongsak Lothongkam for purchasing shares of SVI Public Company Limited (SVI) while knowing or possessing inside information. The measures require him to pay THB 123,337,594 and prohibit him from serving as a director or executive of securities issuing companies, listed companies or securities companies for 29 months. The SEC’s investigation, following a 2022 referral from the Stock Exchange of Thailand, found that Mr. Pongsak Lothongkam was a major shareholder holding more than 50% of SVI and served as an advisor involved in business strategy and key meetings. He was deemed to have possessed inside information on SVI’s third-quarter 2021 performance, including net profit of THB 520.52 million, before it was disclosed to the Stock Exchange of Thailand on 10 November 2021 at 19:09, and bought SVI shares ahead of that disclosure, benefiting from the ensuing price increase. The total sanction comprises a civil penalty, compensation equal to the benefit received, and reimbursement of the SEC’s investigative expenses. The sanctions take effect when the offender signs a consent letter; otherwise, the SEC will refer the matter to the public prosecutor to seek a court-imposed civil sanction, with statutory penalties not lower than the committee’s specified amount. Any civil penalties and compensation are to be remitted to the Ministry of Finance as public revenue.

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