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...
accounting and auditing standards. The event aims to promote audit regulator and audit firm cooperation, boost audit quality in the region while enhance reliability of financial reports of companies in ASEAN
every firm passed the six key elements with highest average score in the area of client acceptance and continuance (A&C) where most firms already have in place engagement acceptance procedures that take
permissible products are more complicated, risky and similar to those AIs have been allowed to invest domestically such as unrated bond and foreign sukuk. Moreover, all investors will have more investment
effective cybersecurity plans. SEC Secretary-General Rapee Sucharitakul said: ?Cyber threats are evolving very fast and becoming more complicated. Preventive measures alone may not be enough. It is therefore
capital market are complicated and finding the evidence is difficult, especially electronic evidence which requires assistance from specialized agencies. Therefore, this cooperation between SEC and the
corporate bond business that is usually subject to high costs and time-consuming, complicated processes. The DLT platform can reduce costs and increase efficiency, transparency and competitiveness of
) Reducing debt securities notifications to ensure less complicated rules and more convenience for stakeholders; (2) Reviewing regulations to be up-to-date and consistent with other regulations on other types