But it was not in the top five at the end of December. The fund was CPALL's 14th-largest shareholder as of May 7, 2015, according to Stock Exchange of Thailand (SET) data. The Securities and Exchange Commission early last month announced four CP All executives -- executive chairman Korsak Chairasmisak, vice-chairman Piyawat Titasattavorakul, vice-chairman Pittaya Jearavisitkul and Athueck Asvanund, a vice-chairman and group counsel of True Corporation -- were fined a combined 33.3 million baht for using inside information to purchase shares of cash-and-carry giant Siam Makro Plc ahead of the 7-Eleven operator's notice it would buy out Makro at above-market value. Even though both local and foreign institutional investors pressured CP All's board to take appropriate action against these executives, the company's audit committee and independent directors have said they would take no further action against them.