Investor rights intact, SET says
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Investor rights have not been diminished after brokerage houses announced trading-limit cuts due to overheating stocks as this applies to only trading accounts with irregularities, the Stock Exchange of Thailand has said.
SET president Kesara Manchusree said another reason the reduction of 20-50 per cent would not erode investor rights was the fact that a warning would be given before a cut.
“We see the move as not being against the exchange’s policy that requires investors to take care themselves. It’s the brokerage houses’ decision to curb irregular trading,” she said.
Kesara said the SET would continue to probe trading irregularities through its coordination with the Association of Thai Securities Companies and the Securities and Exchange Commission.
According to the SEC, of the 39 complaints in the third quarter, 19 related to unfairness including stock manipulation and inside trading, 14 to businesses operating without a licence, and six to the performance of investment consultants.
There were 33 complaints in the third quarter last year.
