Thailand seeks to crack down on insider trading

[webfact]

Thailand seeks to crack down on insider trading
BY LARRY BANKS



BANGKOK: -- Thai executives are facing a crackdown on insider trading as a backlash grows over a high profile scandal in the country, according to an article in the FT.

The stock market regulator’s head has said stronger action is needed on market manipulation, after CP All, operator of the country’s 7-Eleven franchise, allowed three board members who were fined for the offence to keep their jobs.

Investors in Thailand are boycotting buying new shares in the company, part of the multinational Charoen Pokphand Group, over failure to go further than a reprimand of the three concerned. Rapee Sucharitakul, Securities and Exchange Commission secretary-general, said the regulator was examining ways to toughen the country’s regime for punishing insider traders.

“It’s one of the things we are looking into — to make it much more forceful”, he told the Financial Times.

Full story: https://ethailand.com/business-news/thailand-seeks-to-crack-down-on-insider-trading/1678/

-- eThailand 2016-03-07

[HOAX]

Crack this, crack that... Every week they're gonna crack something, but still nothing's ever been cracked.

The only crack in Thailand is the crack they're on.

If they were serious about it, it wouldn't be necessary to tell the public "we will do something...".

Do it! ... and THEN tell the public what you did.

Sent from my iPhone using Tapatalk

[ezzra]

Insider trading is part and parcel of the corruption make up in this country where they see noting

wrong in circumventing the laws that were put there to protect the public's interests including those

of the cheaters themselves, but this is asking too much from a culture of every man to him self, and

steal and cheat as much as you can coz everyone else is doing it... so until the psyche of the people

will change to think otherwise, these acts and similar will continue.....

[rheinwiese]

Another crackdown with a shelf life of a few days. Yawn....

[Thian]

This will cost them a lot of foreign investors...Even more when nobody gets arrested.

[leeneeds]

This reminds me of the game " who stole the cookie from the cookie jar"

[Thian]

This reminds me of the game " who stole the cookie from the cookie jar"

A Thai would never do that, mummy gives them as many cookies as they can eat. And if mummy doesn't then grandma will.

[worgeordie]

Does that mean the insiders will actually receive prison terms,or

will they only get fined,and still be left in profit.

regards Worgeordie

[empireboy]

Crack this, crack that... Every week they're gonna crack something, but still nothing's ever been cracked.

The only crack in Thailand is the crack they're on.

If they were serious about it, it wouldn't be necessary to tell the public "we will do something...".

Do it! ... and THEN tell the public what you did.

Sent from my iPhone using Tapatalk

They're a cracking great bunch these Thai Regulators.

Probably the only thing they are truly "cracking" is the 'Bubbly' to celebrate their wins!

[Srikcir]

Financial institutions in Thailand managing more than $170bn in funds retaliated last month with a pledge to stop buying new shares in CP All

Wouldn't this amount to a conspiracy that essentially manipulates the share price of CP All and violates the concept of an open stock market? The Thai SEC should warn those financial institutions not to make such pledges.

[Yann55]

Crackdown on insider trading ? Well, good luck with that, dear 'authorities'.

Stock markets are a Western invention which has repeatedly proved its capacity to generate crises where, ultimately, the poor get to compensate for the pharaonic abuses of the rich. A few rich people are crushed in these periodic events, but not many, because when you're rich, your first preoccupation is to diversify your patrimony in every available manner so that losses on one side will be balanced by earnings on the other. As a matter of fact, financial crises make a number of rich people even richer, depending on how they invested their patrimony in the first place.

The West, despite all its flaws, was also concerned with ethics (even if only because such ethics are necessary to maintain the boat afloat), and quickly realized that this tool - the stock market - was extremely toxic, so 'we' sought to regulate it with a number of rules. It worked ... and it didn't. Rules are bound to be circumvened or broken. They were broken and pybassed, repeatedly, each time resulting in huge economic disasters and unfathomable damage to the poor.

The West, with all its insatiable greed, pushed and pushed to make its economic 'model' an international one, for the obvious reason that bigger market = bigger profits. In all non-Western countries, where greed is just as prevalent as in any other part of the world, a number of local greedies quickly realized that this model would make them rich (or more often, richer), so they went along with the Western model.

The problem is that nothing in this process ever factored the essential notion of terrain. What we perfectly understand when growing vegetables, for example, we seem to totally ignore in the social field, where it is just as important, if not more.

Thailand, like most of Asia, is deeply impregnated with Confucianism because Thais originally came from China, and, even though the Buddhist heritage is claimed primarily, it is in fact the principles of Confucius that form the warp of social behaviour here.

Confucius, for reasons that were quite understandable in his time, eloquently and convincingly called for a society where :

1/ family comes first,

2/ respecting elders (especially the parents) is paramount, and the authorities are considered like parents,

3/ the group is more important than the individual (hence the central concept of Harmony).

Anyone who understands the basic rules of stock markets and reflects on how these rules will combine with the Confucean principles listed above, will see that 'stock market' and 'Asia' put together are a recipe for disaster. Nepotism, insider trading, buying stock in the name of one's cook, gardener or driver, etc etc ... It's all bound to happen, again and again. What is more, the people who do it see nothing wrong with it, even if they pretend to understand and abide by the rules, because no, they are not stupid. Not stupid at all.

Edited March 7, 2016 by Yann55

[Lupatria]

Did they charge the CEO of Nok Air?

[wabothai]

Insider trading is part and parcel of the corruption make up in this country where they see noting

wrong in circumventing the laws that were put there to protect the public's interests including those

of the cheaters themselves, but this is asking too much from a culture of every man to him self, and

steal and cheat as much as you can coz everyone else is doing it... so until the psyche of the people

will change to think otherwise, these acts and similar will continue.....

The psyche only changes after the Chinese have taken over.

[Roomuck]

Insider trading is IMPOSSIBLE to stop in any country. Definitely not just a Thai thing.

A crackdown is necessary as it is in all countries, it makes it harder for them, but it only makes the Insiders go to greater lengths to cover their tracks. It doesn't stop it, and it never will.

The only way I it could be eliminated would be by weekly lie detector tests for all involved, and that won't happen.

It is just the way it is.

[metisdead]

An off topic post has been removed.

[Prbkk]

Insider trading is IMPOSSIBLE to stop in any country. Definitely not just a Thai thing.

A crackdown is necessary as it is in all countries, it makes it harder for them, but it only makes the Insiders go to greater lengths to cover their tracks. It doesn't stop it, and it never will.

The only way I it could be eliminated would be by weekly lie detector tests for all involved, and that won't happen.

It is just the way it is.

Much truth in this but the specifics of the CP case are different: this time it's the institutional investors calling foul and raising doubts about bond raising for the whole group going forward.

So a few sleazebags have put at risk , for the sake of personal gain of low millions USD, the debt raising capacity of Thailand's biggest company.

[kiwikeith]

Insider trading is part and parcel of the corruption make up in this country where they see noting

wrong in circumventing the laws that were put there to protect the public's interests including those

of the cheaters themselves, but this is asking too much from a culture of every man to him self, and

steal and cheat as much as you can coz everyone else is doing it... so until the psyche of the people

will change to think otherwise, these acts and similar will continue.....

Insider trading is epidemic around the globe escpecially Wall St, litle old NZ if full of it as well.

If Thailand cleaned up insider trading they would set a world wide example. dont hold your breath!

[SOTIRIOS]

...oh pleaseeeeeeeeeeeeeeeeee.....

...seeks to....try to........begin to.............

....first make a big public announcement.....and let them cover their trails.....

[elgordo38]

Crack this, crack that... Every week they're gonna crack something, but still nothing's ever been cracked.

The only crack in Thailand is the crack they're on.

If they were serious about it, it wouldn't be necessary to tell the public "we will do something...".

Do it! ... and THEN tell the public what you did.

Sent from my iPhone using Tapatalk

Taking legal action arresting these boys well your dealing with another whole new breed of cat. These guys are connected and protected. The powers that be are looking for a face saving arrangement all around. They are damned if they do and damned if they don't. Just another case of the power brokers flexing their muscles to see how far they can push this matter and the system. Like the Volkswagen case where they admitted guilt but where is the beef. Headlines have gone dead. Another to big to fail company. These guys think of themselves in the same way. Yes this will be talked to death with much bluster. Its an item like this and the boat explosion that shows you why the government wants to gag the media. They want to play in the big leagues but not necessarily by its rules.

Edited March 7, 2016 by elgordo38

[halloween]

So Thailand does have insider trading legislation. And yet a criminal businessman was allowed exclusive access to Cabinet deliberations.

[Ulic]

Insider trading is IMPOSSIBLE to stop in any country. Definitely not just a Thai thing.

A crackdown is necessary as it is in all countries, it makes it harder for them, but it only makes the Insiders go to greater lengths to cover their tracks. It doesn't stop it, and it never will.

The only way I it could be eliminated would be by weekly lie detector tests for all involved, and that won't happen.

It is just the way it is.

Actually with computer trading and tracking insider trading is very easy to spot and track. People

trading in stocks in volumes that are out of the norm are easily spotted. The question

is the laws and how they are written are hard to enforce so in general very little is done about it.

Look at Martha Stewart. Of course she was guilty of insider trading, but she was not found guilty

of that, contrary to popular belief. The problem is the laws, the way they are written and enforcing

them. Also the stock market has no wish to publicise the fact they the fix is in with the stock market

so they like to ignore and cover-up all but the most egregious flagrant fowls. Remember despite

the egregious and flagrant flouting of banking/trading laws no banker has gone to jail for the 2008

crash. A 500 baht fine and a sternly worded letter will not be a deterrent here in Thailand.

[mango66]

Does that mean the insiders will actually receive prison terms,or

will they only get fined,and still be left in profit.

regards Worgeordie

They will be punished !

by limiting the amount they can use for such offence without punishment !!

and they will have to share the profit with the burse director !!

[mango66]

It's easy in countries where gardener and kitchen maids have salaries of millions of THB;

Lucky not in western countries,

But LOS is a HUB for this !!

[jayboy]

So Thailand does have insider trading legislation. And yet a criminal businessman was allowed exclusive access to Cabinet deliberations.

Congratulations on another silly invocation of Thaksin in an entirely irrelevant context.Stupid too because corporate business is discussed in board rooms not at Cabinet,

Returning to the subject matter insider trading is endemic in Thailand and I dispute the suggestion that everywhere else is just as bad - even though it can be found almost everywhere.In the US for example there is every possibility offenders will be jailed.

What is maddening in the CP case is the brazen nature of the offenders.Known to be guilty yet all retain their positions.Untouchables.

[kannot]

Are they talking just about govt ministers here as Im confused?

[halloween]

So Thailand does have insider trading legislation. And yet a criminal businessman was allowed exclusive access to Cabinet deliberations.

Congratulations on another silly invocation of Thaksin in an entirely irrelevant context.Stupid too because corporate business is discussed in board rooms not at Cabinet,

Returning to the subject matter insider trading is endemic in Thailand and I dispute the suggestion that everywhere else is just as bad - even though it can be found almost everywhere.In the US for example there is every possibility offenders will be jailed.

What is maddening in the CP case is the brazen nature of the offenders.Known to be guilty yet all retain their positions.Untouchables.

<snip> Are you really claiming advance knowledge of future government policy would not be advantageous to corporate business?

For example - Somchai, a rice farmer (somewhere between 5 and 5,000,000 rai) thinks PTP's rice price is unsustainable, for obvious reasons, and may well be discontinued. Should he plant his marginal land? What a pity he doesn't get insider information of cabinet deliberations, let alone decide policy to his own benefit.

Edited March 7, 2016 by Jai Dee
Flame deleted

[Jim walker]

Crackdown another means to feed the Thailand corruption band wagon now more money will change hands to keep names and details and or information related to any crimes committed out with the public and media domain and no one will be punished in any way for any crime committed so all back to normal tomorrow another successful crackdown. Praise be the Junta.

[Johpa]

Actually with computer trading and tracking insider trading is very easy to spot and track. People

trading in stocks in volumes that are out of the norm are easily spotted......

High speed computerized trading is, of itself, just an automated version of insider trading. Just assume that you are always paying a fraction more than necessary on your stock purchases to someone with a faster IT system than yourself.

Edited March 7, 2016 by Johpa