Recent news reports on cyber attack on a foreign decentralized finance platform, which resulted in tremendous loss of clients’ digital assets, have raised concerns over cybersecurity. The SEC is therefore urging digital asset business operators to emphasize the importance of cybersecurity on a continuing basis and to assign a responsible entity to oversee the matter to ensure that they can provide services to investors continuously and clients’ digital assets are securely safeguarded. The SEC...
scores and recommendations are summarized as follows:(1) Client acceptance and continuance (A&C): Some audit firms may need to improve A&C by requiring consideration on all significant information before
to other out-of-control wallets without client’ instructions. That actions incurred losses to others and public in violation of Section 85 of Digital Asset Businesses Law. It also violated Section 87
check the transaction before executing it for the client. Additionally, the evidentiary documentation of such transaction must be kept ready for retrieval upon the SEC’s request for inspection; (2) The
Bangkok, 13 September 2016 - The SEC has imposed a two-year suspension of approval on {A}, Executive Chairman of {X1} Company Limited, for failing to supervise the Know Your Client/Client Due
the client. Additionally, the evidentiary documentation of such transaction must be kept ready for retrieval upon the SEC’s request for inspection; (2) The use of a client’s assets, fiat money and
management, such as, the issuance and offering of securities, the Know Your Client process, the securities registration process, as well as the trading and clearing and settlement process. Furthermore
Bangkok, March 24, 2015 - The SEC disclosed an inappropriate behavior and imposed a suspension on {A}, a former employee of KGI (Thailand) Securities Plc., for failure to completely record client?s
, indicating that he had been authorized by his client to make securities trading decisions on the client's behalf. The communication record showed that {A} called to inform his client of the trading orders
recent development in this area is the SEC Board’s approval of amendments to the Stock Exchange of Thailand (SET) regulations to improve the screening process for companies applying for SET listing and to