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.
