SEC Fines Bualuang Securities Executive for Inadequate Trading Controls

MGR Online•Economy•1d ago

Reader Briefing

Bualuang Securities' Managing Director fined by SEC for lax oversight of executive trading to prevent conflicts of interest.

•The Securities and Exchange Commission (SEC) has fined Mr. Pichet Sittiamnuay.
•The fine is 100,000 Baht for inadequate internal controls at Bualuang Securities.
•The issue pertains to the period between September 1, 2022, and September 15, 2024.
•Bualuang Securities granted internal approvals to exempt executives from trading regulations, potentially creating conflicts of interest.

•Between September 1, 2022, and September 15, 2024, Mr. Pichet Sittiamnuay was responsible for the operations of Bualuang Securities.
•Bualuang Securities had internal approval orders granting executives exemptions from the trading and employee regulations.
•These exemptions were deemed insufficient to prevent conflicts of interest.
•The Securities and Exchange Commission (SEC) has ordered a fine against Mr. Pichet Sittiamnuay.
•The fine amount is 100,000 Baht.
•The penalty was imposed under Section 283 of the Securities and Exchange Act.
•Mr. Pichet Sittiamnuay, as Managing Director of Bualuang Securities, is held responsible for the inadequate oversight.

Full article content is available on the original source.

SEC(ก.ล.ต.)ℹ️

The organization that imposed the fine on Mr. Pichet Sittiamnuay for inadequate internal controls.

Bualuang Securities Public Company Limited(บมจ.หลักทรัพย์ บัวหลวง)

Securities firm where the inadequate internal controls for executive trading were identified.

Pichet Sittiamnuay(พิเชษฐ สิทธิอำนวย)

Managing Director of Bualuang Securities, fined by the SEC for inadequate oversight of executive trading.

Securities and Exchange Act(พ.ร.บ. หลักทรัพย์ฯ)

The law under which Mr. Pichet Sittiamnuay was fined by the SEC.