SEC discloses SEC Board resolution asking Asia Wealth Securities Company Limited to temporarily suspend its trading. After using the client’s money without orders or consent in the amount of 157.99 million baht
According to Asia Wealth Securities Co., Ltd. notified to the Securities and Exchange Commission (SEC) by the SEC found that the company took the client’s money in the company’s possession. without the order or consent of the customer amounting to 157.99 million baht
This could cause serious damage to our customers’ property.
As for the Capital Market Supervisory Board (SEC), which met on 17 November 2022 no. 12/2022, considered that the company’s operations could cause serious damage to the public interest. Therefore, it has been resolved pursuant to Section 143 of the Securities and Exchange Act BE 2535 that Asia Wealth Securities Co., Ltd. will proceed as follows:
1) Take customer money that the company misuses without the customer’s permission. Return by Sunday, November 20, 2022.
2) Temporarily suspend trading in securities Unless it is a transaction to hedge the overall risk of the Company’s investment or the fulfillment of pending obligations. From Friday 18 November 2022 onwards, until the company returns the customer’s money. and was cleared by the SEC to conduct business as usual
3) Establish a work system to prevent such incidents from happening again. By Friday 18 November 2022
4) Facilitate the company’s customers. so that the client can carry out operations on the client’s assets that are at the company according to the client’s wishes in the time frame agreed with the client
In addition, for the derivatives business, the SEC, pursuant to Section 50 of the Derivatives Act BE Also as of Friday, November 18, 2022, except for negotiations to cancel existing position of futures contracts until the company returns the client’s money and has been authorized by the SEC to conduct business as usual Including requiring the company to proceed in accordance with (1), (3), (4) as mentioned.
Source – SEC
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