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 Diligence (KYC/CDD) as well as client activity oversight systems. Additionally, the SEC is in the process of submitting the? case for consideration of the Criminal Fining Committee.During a routine inspection of {X1} Company Limited, the SEC found deficiencies in the company's KYC/CDD system. Also its clien...
, increasingly emphasize the importance of audit quality factor in the selection of auditors. Qualitative information in the firm inspection report is thus very useful for the selection process. In addition, the
In November 2019, SEC engaged the Thailand Development Research Institute (TDRI) to conduct a study on laws pertaining to the supervision of audit firms and auditors in foreign capital markets for supporting amendment of the Securities and Exchange Act B.E. 2535 (Securities and Exchange Act) to allow more effective and efficient supervision of audit firms and auditors in Thai capital market.SEC Secretary-General Ruenvadee Suwanmongkol said: “This is the first time SEC contracts an independ...
cyber threat to ensure that clients’ digital assets under their custody are safe. Essentially, digital asset business operators are required to establish a cybersecurity system in accordance with the
and financial statements audited by an auditor who is employed by an audit firm that has been inspected by the SEC*; 2. Submit half-year and annual financial statements that have been
and underwriting of investment units and securities borrowing and lending. This is to ensure sufficient information for monitoring and examining safe-keeping of client assets. The consultation paper is
monitored with professional investment advices. If investors encounter any solicitation to transfer money into an account of securities firm, whether or not it is the firm that investors have already opened
monitored with professional investment advices. If investors encounter any solicitation to transfer money into an account of securities firm, whether or not it is the firm that investors have already opened
following and inquiring about cybersecurity measures and data security from your service providers, including cooperating with them to ensure that your data and assets are safe.” In addition, the SEC
Association under the Royal Patronage of His Majesty the King. Currently, she is a member of the SEC Takeover Panel (Legal Expert) and an executive at a legal consulting firm.