SEC considers penalty for JKN

The Securities and Exchange Commission (SEC) is considering imposing a penalty on executives of JKN Global Media (JKN) for publishing a Facebook post to promote its hemp business and encouraging followers to buy shares, but only if the stock regulator determines the company acted intentionally to boost its share price.

The Stock Exchange of Thailand (SET) plans to conduct a preliminary investigation into JKN’s intentions to determine whether it manipulated its share price.

The SET then passes the case on to the SEC if it finds sufficient evidence to support the accusation.

The market believes the investigation may uncover evidence that JKN was guilty of stock manipulation, according to a stock market source who requested anonymity.

Details of the legal process would not be made public until a decision has been made, the source said.

A memorandum of understanding…