# SEC imposes civil sanctions on two offenders for insider trading of COL shares

- Link: https://www.thailand-business-news.com/markets/154872-sec-imposes-civil-sanctions-on-two-offenders-for-insider-trading-of-col-shares
- Published: 2024-08-04T12:13:49+07:00
- Author: SiamNews PR

**The Securities and Exchange Commission (SEC) has levied civil sanctions against
Mr. Worawoot Ounjai and Miss Patcharapat Tongwaen for their involvement in the insider
trading of COL shares. They are required to pay fines and are prohibited from holding
director positions for designated durations.**

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The Securities and Exchange Commission (SEC) has imposed civil sanctions on two 
individuals, Mr. Worawoot Ounjai and Miss Patcharapat Tongwaen, for colluding in
the share purchases of COL Public Company Limited (COL) using inside information.
As a result, the offenders are required to pay a total of 4,237,746 baht in civil
penalties and are prohibited from serving as directors or executives of securities
issuing companies or securities companies for specified periods.

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According to the referral from the Stock Exchange of Thailand (SET) and the SEC’s
further investigation, it was found that Worawoot, a director at COL and the second
largest major shareholder at the time, had knowledge of inside information. This
information indicated that a subsidiary of Central Retail Corporation Public Company
Limited (CRC) was in the process of acquiring all securities of COL at a price higher
than the market price at the time, which would have a positive impact on the share
price of COL. Subsequently, Worawoot and Patcharapat purchased COL shares through
Patcharapat’s trading account before such inside information was disclosed to the
SET on 14 September 2020.

The collusion between the individuals in insider trading of COL shares, with knowledge
or possession of inside information, was considered a violation of Section 242(1)
of the Securities and Exchange Act B.E. 2535 (1992), along with Section 83 of the
Criminal Code. This is subject to penalties under Sections 296 and 296/2, as well
as civil sanctions under Sections 317/4 and 317/5 of the same Act.

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**Source** : [SEC imposes civil sanctions on two offenders for colluding in the insider trading of COL shares](https://www.sec.or.th/EN/Pages/News_Detail.aspx?SECID=10984&rand=113627)