connection, all business operators are required to place high importance and clearly communicate the information contained in their advertisements. The advertisement must not contain false, exaggerating or

measures to prevent and manage conflicts of interest. Such mechanism and measures must be clearly outlined in the ICO filing. Additionally, specific significant matters would require approval from the

specifically to investment unit and debt instrument having high-risk or complex characteristics; (c) complex instrument investment consultant type 3 is able to provide consultation on capital market product

addressing potential damage from operational risks. For example, a lower ongoing capital requirement would be permissible specifically for intermediaries that only provide asset management services excluding

example, an IPO to cornerstone investors must not contain any agreement or contract that would render material benefits specifically to cornerstone investors for the disadvantage of other subscribers. This

features and offer higher returns than general debt securities. Specifically, from 2012 to June 2020, the total offering amount of subordinated perpetual bonds was 119,000 million baht. Of this amount, the

credit ratings. Except for a credit rating that clearly indicates it does not entail ongoing surveillance, once a credit rating is published, the CRA should monitor the credit rating on an ongoing basis by

as the potential impacts on the bondholders both in cases of approval and decline of approval for the above matters with respective supporting reasons, and clearly provide information to the

and shortcomings as well as the potential impacts on the bondholders both in cases of approval and decline of approval for the above matters with respective supporting reasons, and clearly provide

supporting reasons, and clearly provide information to the bondholders together with the opinions of the bondholder representative. The bondholders are, therefore, encouraged to thoroughly review the