Bangkok, September 24, 2014 ? Vorapol Socatiyanurak, SEC Secretary-General revealed that the Capital Market Supervisory Board has approved revision of rules applicable to securities companies facing financial difficulty and unable to maintain adequate net capital as prescribed. The revised rules include rectification period, restriction of business operations during rectification period and undertakings in case of failure to rectify. The proposed rules will provide more up-to-date and practical...
debt securities, investors will be more exposed to credit risk of the branches than that of the foreign banks due to limitations of law on bankruptcy. Thus, the SEC revises disclosure of the foreign
Bangkok, May 26, 2014 ? The SEC requires an application and information disclosure for offshore offering of convertible debentures (CD) be jointly prepared by CD issuer and SEC-approved financial advisor (FA) while more comprehensive disclosure of information about dilution effect are mandatory. The revised regulations will be effective by this June. SEC Secretary-General Vorapol Socatiyanurak revealed that ?the Capital Market Supervisory Board (CMSB) requires application and information disclos...
The SEC Board Meeting No. 13/2566 and No. 17/2566 held on 15 August 2023 and 7 December 2023, respectively, resolved to approve the principles for revising the advertising rules for business operators. The SEC conducted a public hearing on the proposed principles and relevant draft regulations during 9 October – 7 November 2023. Most respondents supported the proposal for amending the advertising rules, which contains key points as follows: (1) Revoking the requirement for notifying details...
To enhance clarity and consistency with the current business practices of the private sector, the SEC has issued regulations revising the characteristics of “bills” deemed as “securities,” which include (1) bills of exchange and promissory notes payable or issued by a company and given to the creditor or the buyer as evidence of rights under the bills. Additionally, such bills must be accompanied by solicitation or advertisement of the issuance of the bills for the purpose of raising fund from m...
The revised licensing manual gives more convenience to business operators wishing to apply for a digital asset business license by adding the checklist of required documents, the rules related to the arrangement of information technology system to support IT audit, and a summary of the business and compliance system. The revision is a result of the workshop on consideration of application for undertaking digital asset businesses wherein experts from CMKL University gave advice on how to im...
Presently, several companies are interested to raise fund through digital token offer to finance their investment in office buildings or condominiums which will later be rented for income shared to holders of digital tokens or real estate-backed initial coin offering (ICO). Meanwhile, the regulations have not yet extended to such fund raising method and a smart contract has not yet covered an enforcement of investors’ rights in some issues which are activities occurring outside blockchain...
Pursuant to the Notification concerning Determination of Fees for Filing of Registration Statement, Registration and Other Applications, as amended, the calculation of fees shall be based on the shareholders’ equity in the financial statements for the latest financial year submitted to the SEC. In the case where a company fails to submit the financial statements for the latest financial year but submits other financial statements to the SEC such as the quarterly financial statements that c...
The Regulatory Guillotine* scheme is one of the key projects supporting the implementation of SEC Strategic Plan in the area of competitiveness enhancement and connectivity. The scheme enables a regulatory framework that requires issuance and revision of necessary rules and regulations and promotion of effective enforcement in line with international standards and current situations.In this regard, SEC has developed, reviewed, and revised regulations on the operation of investment manage...