Thailand: Bounty and gratuity regulations on insider trading and market manipulation offenders to become effective on 16 April 2015

http://www.sec.or.th/en/Pages/News/Detail_News.aspx?tg=NEWS&lg=en&news_no=43&news_yy=2015

Thailand: Bounty and gratuity regulations to become effective on 16 April 2015

10 April 2015

Thai News Service

Section: Business News – The Capital Market Supervisory Board approved regulations on payment of bounty to the informer as well as payment of gratuity to the arrestor in cases where fine is imposed on insider trading and market manipulation offenders under Sections 241 and 243 of the Securities and Exchange Act B.E. 2535 (1992). The bounty and gratuity will be paid in the amount up to 30% of the fine paid to the court or as ordered by the Settlement Committee.Vorapol Socatiyanurak, SEC Secretary-General said, The bounty and gratuity regulations will support enforcement efficiency, raise investors’ awareness in helping monitor our capital market and facilitate legal actions against any persons taking advantages of others. Key criteria of the regulations include methods for giving information and application for bounty or gratuity, consideration on entitlement to obtain bounty, procedures for bounty and gratuity payment, proportion of bounty and gratuity and criteria for obtaining bounty and gratuity. In this regard, the information on wrongdoing and the application for bounty can be filed either with theSEC or the Department of Special Investigation (DSI), while the application for gratuity must be filed with the DSI.

Taking into account the safety of informer, a provision on anonymity of the informer is included in cases where such person prefers non-disclosure of his or her identity. Meanwhile, the given information must be true. Nonetheless, giving false information to the SEC or the DSI constitutes violation of law and subject to criminal penalties.

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