The Securities and Exchange Commission (SEC) has imposed civil penalties on four offenders for jointly manipulating the price or trading volume of Thai Parcel Public Company Limited (TPL) shares. They are required to pay a total of 20,293,332 baht, along with bans on securities trading and serving as directors or executives for up to 22 months. The offenders are Ms. Or-orn Akkaraseranee, Mr. Phakawan Wong-ophasee, Ms. Arissa Sing-som, and Ms. Kanchanarat Wongphan, who are interconnected. They jointly placed high-priced and high-volume buy orders during the pre-opening period, causing the opening price to be higher than the IPO price, and matched trades among themselves to stimulate trading, resulting in an abnormal rise in TPL share price. This constitutes the offense of jointly manipulating securities prices under Section 244/3 (1) (2) and Section 244/5 of the Securities and Exchange Act B.E. 2535. The Civil Penalty Committee (CPC) resolved to impose penalties, with Ms. Or-orn required to pay 18,535,833 baht, a trading ban of 11 months, and a director ban of 22 months. Mr. Phakawan must pay 585,833 baht, with a trading ban of 8 months and a director ban of 16 months. Ms. Arissa and Ms. Kanchanarat each must pay 585,833 baht, with trading bans of 6 months and director bans of 12 months. If the offenders do not consent, the SEC will file a lawsuit with the Civil Court.
Thai Parcels Public Company LimitedSEC penalizes individuals for manipulating TPL share price, which may affect investor confidence and regulatory scrutiny on the company.
