SEC to learn from failed suit
The Securities and Exchange Commission will study the case in which the Attorney-General's Office recently dropped criminal charges against Thosapong Jaruthavee, former top executive of Natural Park. The commission's goal is to seal the legal loophole.
SEC secretary-general Thirachai Phuvanat-naranubala said yesterday that the securities watchdog had asked for documents from the Attorney-General's Office to assess the case. "We've asked the Attorney- General's Office for the details. Then we'll scrutinise which of the SEC's regulations was not tight enough, so that we can improve upon it for the benefit of retail investors," he said. Commenting on Thosapong filing a retaliatory lawsuit against Thirachai and five other SEC officials, he said Thosapong had the right to do so and the SEC was ready to cooperate in the investigation. "I'm not concerned about the fact that we're being sued as we did what was our responsibility to do," he said. The SEC and the Department of Special Investigation agreed to file a lawsuit against Thosapong in August 2004, accusing him of striking a business decision in a way that benefited Sawang Mankongcharoen. Piyarat Setthasiriphaiboon The Nation
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