Thailand's SEC Faces Pressure to Reform Disclosure Framework After False Filings
Thailand's Securities and Exchange Commission (SEC) is under scrutiny following a scandal involving false Form 246-2 filings by Supaporn Phimpong. These filings falsely claimed significant share acquisitions in six listed companies, including True Corp and Bangkok Bank. The incident has raised concerns about the integrity of Thailand's self-reporting disclosure system, which relies on shareholders to submit accurate information through the SEC's online filing system. The false filings, which were initially published without verification, highlighted vulnerabilities in the system, as they influenced investor sentiment and trading activities. The SEC has since removed the inaccurate filings and is conducting a formal investigation with the Economic Crime Suppression Division. 
