Title: Thai Business Executive Fined for Insider Trading in BFIT Securities Case

Background

Bangkok, July 26, 2016 – Mr. Sakorn Suksriwong, a Thai business executive, was fined 500,000 baht for insider trading in the BFIT Securities Public Company Limited (BSEC) case. The fine was imposed by the Criminal Fining Committee following an investigation by the Securities and Exchange Commission (SEC) and a referral from the Stock Exchange of Thailand (SET).

Violation and Nonpublic Information

Sakorn, who held positions as BSEC Director, BFIT Chief Executive Officer, and BFIT Vice President, solicited an individual to purchase BSEC shares based on insider information he obtained. OSK Investment Bank Berhad (OSKIB) in Malaysia was planning to buy BSEC shares from Bangkok First Investment & Trust Public Company Limited (BFIT) at a price higher than the market price, causing a potential shift in major shareholder structure and leading OSKIB to make a tender offer for the remaining BSEC shares.

The nonpublic information was material to the change in BSEC’s share price. Sakorn had access to this information between 23 December 2010 and 6 January 2011.

Legal Violation and Penalties

Sakorn’s actions violated Section 241 of the Securities and Exchange Act and were penalized under Section 296. He took advantage of other persons in the stock market, receiving an unfair advantage in the manipulation of BSEC stocks. The Criminal Fining Committee ordered him to pay a minimum fine of 500,000 baht.

Collaboration with Securities Commission Malaysia

The SEC expressed gratitude to The Securities Commission Malaysia for their assistance in compiling facts and evidence that significantly contributed to the resolution of this case.

About BFIT

By October 22, 2013, BSEC was unlisted from the Stock Exchange of Thailand.

About the Securities and Exchange Commission

The Securities and Exchange Commission is a Thai government agency responsible for regulating and supervising securities businesses and brokers to protect investors and maintain fair and efficient capital markets. For more information, please visit www.sec.or.th or contact the Corporate Communication and Investor Service Department at press@sec.or.th or +66 (0) 2033-9502-5.