SEC Charges Woman Over False Share Trading Reports

The Securities and Exchange Commission held an urgent press conference on July 9 to announce findings against Suphaporn Phimphongse, who filed seven share trading reports covering six securities with the SEC. SEC Secretary-General Pronngong Bussratakul explained that the reports, initially filed on June 30 and July 2, 2025, showed transactions dating back to 2021. When the SEC identified irregularities, it flagged the data as "preliminary information" on July 3, then escalated the status to "under accuracy verification" on July 7.

The SEC identified several critical inaccuracies: the reporter was not listed as a shareholder on the record closure dates despite reported acquisitions; reported securities did not actually exist during the specified periods; and reported share numbers did not reflect actual transactions, such as warrant exercise amounts that matched another person's convertible bond exercises.

Additionally, the SEC found that Suphaporn filed Form 59 reports (requiring insider status) despite having no legitimate obligation to do so under securities regulations. The SEC removed all associated data from its public disclosure system. SEC officials stressed that the system maintains rigorous identity verification procedures, requiring registration matching government population database records and OTP confirmation via registered phone numbers. "The SEC remains confident in its filing systems," said Deputy Secretary-General Sucha Bunyapanet, noting that the Form 246-2 reporting system remains fully operational despite circulating rumors of closure.