The SEC’s inspection on the operation of Huobi as a digital asset exchange operator during February 2021 - March 2021 detected deficiencies and insufficiency in Huobi’s management structure and work systems, causing the company to fail to operate its business in compliance with the governing regulations. Therefore, on 19 March 2021, by virtue of Section 35 Paragraph 1 of the Emergency Decree on Digital Asset Businesses B.E. 2561 (2018) (Emergency Decree), the SEC Board Meeting No. 5/2564 p...
Under the proposed regulations, in order to be qualified for exemption, the futures exchange, derivatives clearing house, securities clearing house and securities depository shall submit its rule to the SEC Office at least 10 working days before the intended effective date of such rule, along with a brief report on comments from the stakeholders (if any). The types of rule that can rely on this exemption are as follows: (1) Rules that carry the material context similar to that state...
Early this year, SEC held public hearings to obtain views on establishing rules that require companies issuing IPOs to disclose information related with the offering for sale of their securities in an audiovisual format in a bid to respond to the changing behaviors of investors, who tend to use the Internet more as a channel to receive information and do not spend as much time on reading long information disclosure forms. This idea was well supported from both business operators and inves...
. In addition, SEC requests that asset management companies notify SEC of the postponement or temporary suspension of contribution of employers and/or employees, and when the contribution is resumed. If
Earlier, the Civil Sanction Committee decided to impose civil penalties against the 40 offenders for manipulating AJD shares* but they either failed to acknowledge or refused to comply with the civil sanction imposed by the Civil Sanction Committee. It was then considered that the 40 offenders refused to extinguish the case with the SEC. Therefore, the SEC requested the public prosecutor to bring the case against all offenders for the Civil Court to impose the highest civil sanction...
civil sanctions on Surin. However, he did not agree to comply with civil sanctions determined by the Civil Sanction Committee. SEC, therefore, requests the public prosecutor in writing to file a
The SEC Civil Sanction Committee (CSC) had earlier resolved to impose civil sanctions on all four offenders of this case, among which only two agreed to comply with the specified civil sanctions. However, the other two, namely, (1) LLC Fair Expo company and (2) Mr. Mikalai Zahorski, who are subject to a total monetary civil sanction of 6,005,620 baht (a civil penalty and a reimbursement of investigative expenses incurred by the SEC), refused to comply with the specified civil sanctions, which wa...
The provisions proposed to be added are as follows: (1) Provision that will require the association to operate its affairs in accordance with the rules prescribed by SEC Board. If, however, there is any matter that SEC Board has not specifically specified, then the provisions under the Trade Association Act will be applied mutatis mutandis; (2) Provision that will allow the association to invest in certain types of securities, provided that, such investment is made...
Pursuant to Section 89/25 of the SEA, the auditor has the duty to report suspicious circumstances that were found from the audit in accordance with the auditing standards. SEC therefore proposes the principle and the draft regulation which would require the auditor to report to the Audit Committee of securities company** or the Audit Committee of listed company any suspicious circumstance that indicates that a director, manager or the person responsible for the operation of a juristic per...