SEC seeks more power to deal with share manipulators

SEC Secretary-General Vorapol Socatiyanurak said that this would reduce the legal process against the alleged. At present, the manipulators face only criminal charges and it takes a long time to prove the cases in court.

He said that such power would be handed to the SEC once the amendments to the Securities and Exchange Act are approved by the National Legislative Assembly.

Under the amended law, the SEC can file a civil lawsuit and will be empowered to confiscate the benefits reaped by the manipulators. They are also subject to fines worth three times of the benefit value.