“We are assessing our weaknesses and loopholes to prevent any repeat of this incident,” said Pakorn. “This is a wakeup call for more improvement and strengthening.”
The Stock Exchange of Thailand plans to tighten market supervision to restore investor confidence after unusual trading in a mid-size company’s stock led to regulatory sanctions against a local brokerage.
Trading in More Return Pcl, which led to the stock being suspended, involved an unanticipated “rare fraud incident”, Pakorn Peetathawatcha, the stock exchange’s president, said Friday. His comments came after Thailand’s Securities & Exchange Commission on Thursday temporarily suspended Asia Wealth Securities Pcl’s operations for allegedly using clients’ funds without their consent.
