Rules and Regulations

Enforcement

When The Stock Exchange of Thailand (SET) considers an act to be in violation of SET rules and regulations, the internal responsible unit shall investigate the matter, collect and submit all evidence to the Disciplinary Sub-Committee, who will consider the entire matter, take any necessary action according to the disciplinary processes, and impose any appropriate punishment for the wrongdoing. 
In the case that a disciplinary order is issued, and a person subjected to disciplinary action does not agree with the order, such person may object the order by filing an appeal with the Appeal Committee. When the Appeal Committee completed the consideration, the Appeal Committee shall submit the opinion to the SET Board of Governors for further consideration and instruction.

Disciplinary and Appeal Process 

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Disciplinary Sub-Committee

The Disciplinary Sub-Committee is appointed by the SET Board of Governors for a three-year term and is made up of five distinguished individuals including at least one of the following:

  • A member of the SET Board of Governors;
  • An individual who is knowledgeable and experienced in the stock exchange, securities business, or finance business;
  • A legal expert
  • The President of the Stock Exchange of Thailand or executive holding the title of Executive Vice President or higher, as delegated by the President;

 
The current Disciplinary Sub-Committee is composed of five members as follows:

  • Assoc. Tithiphan Chuabunchai
  Chairman
  • Professor Dr. Kittipong Kittayarak
  Member
  • Mr. Chao Arunyawat
  Member
  • Mr. Yingyong Nilasena
  Member
  • Ms. Paveena Sriphothong
  Member
  • When a credible allegation or concern arises indicating that a violation of SET regulations has occurred, the SET responsible department will refer the matter and relevant documentary evidence to the Secretary of the Disciplinary Sub-Committee.
  • If the Secretary of the Disciplinary Sub-Committee believes the allegation is legitimate, the Secretary shall notify the party concerned in writing.
  • The party in question must respond to the allegation to the Disciplinary Sub-Committee within 15 days of receiving written notice of the allegation.
  • The Secretary will consider such an answer before submitting the relevant facts, evidence, and recommendations to the Disciplinary Sub-Committee.
  • The Disciplinary Sub-Committee shall complete its examination of the offense, including any potential penalties, within 60 days of the commencement date of the initial hearing. When the Disciplinary Sub-Committee has finished its deliberations, the Secretary of the Disciplinary Sub-Committee shall notify the party concerned in writing of its decision.

 

Appeal Committee

The Appeal Committee is appointed by the SET Board of Governors and consists of at least three but no more than five eminent individuals, with at least one qualified and experienced individual from each of the following areas:

  • Law
  • Accounting and finance
  • Securities industry

 
The current Appeal Committee is composed of five members as follows:

  • Mrs. Kaisri Nuengsigkapian
  Chairman
  • Ms. Yaowaluk Aramthaveethong
  Member
  • Mr. Chatrapee Tantixalerm
  Member
  • Mr. Chavalit  Chindavanig
  Member
  • Mr. Somkiet Kuwawattananont
  Member
  • When a person subject to disciplinary action wishes to contest the disciplinary action order, he or she may file an appeal with the Appeal Committee within 15 days of receiving written notice of the disciplinary action order.
  • The filing of an appeal shall not be grounds for the suspension of the execution of a disciplinary action order. When filing the appeal, the appellant may include a request for suspension of execution of the disciplinary action order, along with the reasons for doing so.
  • An appeal must be made in writing and must include the disciplinary action order that is the subject of the appeal, as well as the facts, legal points, and reasons for disputing any aspect of the disciplinary action order.
  • The Secretary of the Appeal Committee shall give careful consideration before submitting an opinion to the Appeal Committee, along with facts and evidence.
  • The Appeal Committee shall complete consideration of an appeal within 30 days from the commencement date of consideration of such appeal for the first time.
  • When the Appeal Committee completed the consideration, the Secretary of the Appeal Committee shall submit the opinion to the SET Board of Governors for further consideration and instruction.
  • When the SET Board of Governors completed the consideration and instruction, SET shall give written notice of the result to the appellant together with reasons supporting the instruction.
 

Disciplinary Actions
SET will notify member companies and the general public of disciplinary decisions and penalties imposed on those who violate SET rules and regulations. Offenses and penalties will also be available on the SET's website under the "News" section.

2021
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2020
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2019
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2018
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2017
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