SEC Clears TRUE Stock Report System, Launches Deep Investigation
Thailand's Securities and Exchange Commission verified the identity of a shareholder who reported acquiring TRUE stock but is conducting deeper investigation into the source of the shares, reminding investors that stake changes above 5% mus
The Securities and Exchange Commission (SEC) has clarified the situation regarding TRUE Corporation shareholding reports, confirming that the reporter was registered and passed identity verification checks against the national registry database before submitting through the proper system. The SEC is now conducting an in-depth investigation into the accuracy of the stock acquisition and disposal information.
According to SEC spokesperson Anuek Yuayuen, Deputy Secretary-General of the Securities and Exchange Commission, the initial findings show that the reporter completed registration and the system verified the personal information against the government's national registry database in accordance with procedures. The reporter has already submitted the report through the system.
The SEC is currently undertaking a detailed examination of the accuracy of the securities acquisition and disposal data. Under Section 246, shareholders who reach or exceed 5% of total voting rights must report stock transactions to disclose information about potential changes in control or influence that could result from converted securities ownership. This information is critical for investment decisions and must be disclosed to investors in a timely manner, consistent with international standards.
Reports must be submitted through the securities acquisition and disposal reporting system (Form 246-2). Reporters must register, and the system verifies personal information against the national registry database for preliminary verification. Reporters must file reports within three business days from the date of acquisition or disposal.
