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The SEC has suspended two securities investment consultants of Kasikornbank (KBANK) for failure to perform their duties with responsibility and professionalism in the best interest of investors.

The two are Siriwan Sukata and Suparat Nissapha.

According to the reports from KBANK and the SEC, Siriwan was found to have signed on a unit subscription order of a client without contacting or giving advice to the client. She admitted having done so without providing details on the fund to the client. The SEC has therefore imposed a 40-day suspension on Siriwan, effective from November 1 2017.

In the case of Suparat, she committed similar acts by signing on the subscription order of a client without contacting or giving advice to the client. Instead, another KBANK employee, who was not an approved investment consultant had given advice to the client in a way that had caused the client to misunderstand that the investment was a deposit transaction because the return rate and the investment term were written on the cover of the client’s fund book.