extension to the time frame of readiness preparation for business commencement in case of necessity. In addition, the regulations governing key aspects of digital asset business operation would be amended

of the PF business to replace the present fixed and detailed regulations. The scope of amendment includes, for example, corporate structure, personnel readiness, fees, investment management, prevention

appropriate and flexible but will mostly be based on the same principle. The revision will cover various systems for example, operating systems relating to organizational structure and personnel readiness

providers are still responsible for any actions operated by the outsourced company while the outsourced company must also have the readiness in both personnel and the operating system, and such operation

details, that cover several issues such as personnel readiness, investment management, receiving and delivery of funds’ assets and risk management.SEC has studied the supervision in other countries and

and mechanism for risk management, readiness of work systems and personnel, analysis and selection of digital assets to invest, and investment tracking tools, etc. Listed companies should also consider

service for investment in mutual funds; and (5) demonstrate readiness in terms of financial condition, operational systems and human resources.?The new type of selling agents will not only promote

line with international practices. The proposals aim to support market readiness for current dynamic environment resulted from freer flow of capital and ever more connected capital markets and economies

world. SEC thus promotes application of ESG principles in the Thai capital market in all aspects, from the areas of products, issuers, investors and the preparation for readiness of intermediaries* as

20T H ANNIVERSARY 1 Securities and Exchange Commission, Thailand Annual Report 2012 SEC ANNUAL REPORT 20122 THE YEAR OF CHANGE The year 2012 was the time for change to become the visionary partner whose balance between proactive and preventive approaches has led to stakeholders’ confidence in the Thai capital market. THE YEAR OF CHANGE 20T H ANNIVERSARY 1 02 MESSAGE FROM THE CHAiRMAN 04 MESSAGE FROM THE SECRETARY-GENERAl 06 SEC BOARd 09 CApiTAl MARkET SupERviSORY BOARd 12 ExECuTivE OFFiCERS 13 O...