announcing direct investment in cryptocurrency become more interconnected with bitcoin. Event-study: Abnormal Returns (AR)  Market model • 𝐴𝑅𝑖,𝑡 = 𝑅𝑖,𝑡 − 𝛼 − 𝛽𝑖 (𝑅𝑚,𝑡)  Cumulative abnormal

appoint competent officers to perform duties in accordance with this Act. Such ministerial regulations shall come into force upon publication in the Government Gazette.

, complexity, nature of the business environment, specific circumstances , and industry sector. H1: Number of KAMs is positively associated with cumulative abnormal returns/trading volumes (that is the greater

testimony to competent officer - - 1 1 - - - - Failure to comply with the competent officer's order - - - - - - 1 2 Failure to uphold professional standards - - - - - - - - Grand Total 43 80 29 137 111 218 32

registered auditors are allowed to provide auditing services to Thai companies that wish to list on exchanges within the EU jurisdiction without needing to register separately with the competent authorities

establishing and managing Yes No the representative office abroad. 3.3 Having a ready working system comprising at least operational Yes No management, compliance and information management, and competent

conduct; (6) competent staff readiness An intermediary shall provide the competent personnel with the suitable amount for the business operation, and shall supervise its personnel to perform duties in

maintain substantial and adequate financial resources continuously; (5) market conduct An intermediary shall undertake business in keeping with proper standards of market conduct; (6) competent staff

violation The SEC Office issues an administrative order to enforce any regulated person. The SEC Office presents the case to the competent authority. End Administrative Order Issuance Administrative Sanction

access, abnormal and/or illegal use of information systems and user identification of internet trade clients. It should also be required to monitor and analyze such recorded evidence. 31 Provisions in the