The SEC announced civil penalty proceedings against 8 offenders for jointly creating price or trading volume in the warrants to purchase ordinary shares of Simat Technologies Public Company Limited, or SIMAT-W3, and shares of Thai NDT Public Company Limited, or TNDT. The total civil penalty payment ordered amounts to 39,340,932.73 baht, along with prohibitions on trading securities and derivatives and on serving as a director or executive of a securities issuer or securities company. The 8 offenders are Mr. Kajornkiat Ungaram, Miss Raphatporn Trongwongsa, Mr. Kraiwit Tangsanga, Miss Wariya Khemthongpradit, Mr. Thanapon Khemthongpradit, Mr. Sittapavee Chawarangkoon, Mr. Naruesorn Weerachartwattana, and Miss Kannika Jarupan, who are linked both financially and personally. The investigation found continuous coordinated and mutually supportive trading orders across 4 periods between May and August 2021. Period 1, from 31 May 2021 to 7 June 2021, involved 7 offenders manipulating the price of SIMAT-W3. Period 2, from 15 June 2021 to 28 June 2021, involved 8 offenders manipulating the price of SIMAT-W3. Period 3, from 2 June 2021 to 10 June 2021, involved 8 offenders manipulating the price of TNDT shares. Period 4, from 23 June 2021 to 9 August 2021, involved 8 offenders manipulating the price of TNDT shares. The Civil Penalty Consideration Committee resolved to apply civil penalties to all 8 offenders, comprising civil fines, disgorgement of benefits received or expected to be received, reimbursement of the SEC's investigation expenses, and prohibitions on trading securities or derivatives and on serving as a director or executive of a securities issuer or securities company. Miss Raphatporn faces the highest total of 14,243,708.18 baht, a 56-month trading ban, and a 112-month director and executive ban. Next is Mr. Kraiwit with 10,276,246.47 baht, a 42-month trading ban, and an 84-month director and executive ban. Mr. Kajornkiat faces 3,999,535.18 baht, a 56-month trading ban, and a 112-month director and executive ban. Miss Wariya faces 2,210,295.18 baht, an 84-month trading ban, and a 168-month director and executive ban. Mr. Sittapavee faces 2,184,773.18 baht, Mr. Naruesorn 2,168,699.18 baht, Miss Kannika 2,139,997.18 baht, and Mr. Thanapon 2,117,678.18 baht, with all four receiving a 56-month trading ban and a 112-month director and executive ban. These measures will take effect as specified in the consent records signed by the offenders. If they do not consent, the SEC will request the public prosecutor to file a case with the Civil Court to impose civil penalties at the maximum rate prescribed by law, but not lower than the rate set by the Civil Penalty Consideration Committee. The civil fines and disgorgement payments are state revenue remitted to the Ministry of Finance.
Simat Technologies Public Company LimitedSEC imposed civil penalties on 8 individuals for manipulating the price of SIMAT-W3 warrants, a regulatory enforcement action tied to the company's securities.
