The Stock Exchange of Thailand (SET) has fined two companies for defying its regulations on compensation of marketing representatives. KGI Securities (Thailand) and KT Zmico Securities have been accused of paying marketing representatives who did not service the customers in question, causing them to receive compensation which was not in accordance with SET regulations.
KGI and KT Zmico will have to pay about $ 9,956 and $16,924, respectively. SET has put three KGI and two KT Zmico marketing representatives on probation for one year. Three KGI and four KT Zmico executives have been warned to follow SET regulations strictly.
Click here for the release from Stock Exchange of Thailand.