The proposed guidelines have received public comments from several channels spanning from website, social media to focus groups.The to-be-issued rules will provide regulatory clarity for ICO issuers, related intermediaries and those who transact with digital assets, and lessen chance for people on deception or be at disadvantages as well as allow the public sector to have tools to monitor and deter money laundering.ICO issuers must be a company established under Thai law, with a clear bus...
Bangkok, May 12, 2015 ? The SEC published 2014 Independent Audit Inspection Activities Report covering inspection of 12 audit firms and working papers of 46 approved capital market auditors. The inspection showed impressive progress, paving the way to the quality enhancement and increase the number of capital market auditors to accommodate the growth of Thai capital market. Tipsuda Thavaramara, SEC Deputy Secretary-General said, ?At present, Thailand audit oversight has been developed and reco...
Bangkok, May 27, 2014 ? The SEC revealed audit inspection results on eight audit firms; citing all of them met quality requirements. The result, however, showed room for improvement in the area of engagement performance, if improved will heighten their efficiency and bolster investor confidence in the Thai capital market. The SEC?s audit inspection in 2013 covering eight audit firms indicated that every firm passed the six key elements with highest average score in the area of client accep...
Bangkok, January 22, 2014 ? Following the acquisition of control over Electronics Industry Public Company Limited (EIC) by Bee Taechaubol and Thai Prime Co.Ltd., where the tender offer for all EIC shares has been launched at 1.25 baht per share, Bee has been found purchasing 1,017,500 EIC shares through the Stock Exchange of Thailand (SET) at 3.50 baht a share. The tender offer will be closed on January 27, 2014.As the purchase price is higher than the tender offer price, it caused unfair tre...
SEC held the second meeting with the “SME Startup PE VC” working group, set up to promote access to the Thai capital market by small- and medium-sized enterprises, startups, private equity firms, and venture capital firms, on 19 December 2019. Methods for fund mobilization and trading of shares of SMEs and startups on secondary markets were discussed. Conclusions from said discussion are as follows: 1. SMEs and startups are required to be limited companies or public limited...
In pursuant to the Royal Decree on Digital Asset Businesses, B.E. 2561, which took effect since 14 May 2018, allows existing digital asset business operators who submit their requests to SEC within 90 days (within 14 August 2018) to continue their business until an order to discontinue their businesses is given. Earlier, SEC disclosed the names of seven digital asset business operators asking for the digital asset operating licenses.SEC examined information of Southeast Asia Digital Excha...
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...
Commerce. According to the study, the recording of accounting transactions by listed companies in Thailand can be further improved. The study also reveals that most audit adjustments occurred from the
China. The examination reveals that the deposit was not paid to any company in China, but was withdrawn or transferred from Winsound (Thailand)’s bank account to Mr. Amorn and others. The acts of Mr