Thailand's SEC Faces Pressure for Reform After False Shareholding Filings
Thailand's Securities and Exchange Commission (SEC) is under scrutiny following a scandal involving false shareholding disclosures by Supaporn Phimpong. The incident involved the submission of inaccurate Form 246-2 filings, which falsely claimed significant share acquisitions in six listed companies, including True Corp and Kasikornbank. These filings, which were published through the SEC's online system, suggested ownership stakes worth approximately 94 billion baht. The SEC later confirmed that these holdings did not exist, raising concerns about the integrity of Thailand's self-reporting disclosure system. The case has highlighted vulnerabilities in the system, which relies on shareholders to self-report and certify the accuracy of their information before it is published. The SEC has since removed the false filings and is conducting a formal investigation into the matter. 
