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...
with the transitional provisions, are allowed to operate their digital asset businesses.Five of them are seeking licenses to operate as digital asset exchanges:(1) Bitcoin Co., Ltd. (BX / website
, 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
._____________________________Remark:Eight businesses are allowed to operate digital asset businesses according to the transitional provisions (including SEADEX).Six businesses seeking licenses to operate as digital asset exchanges:(1
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...
Upon the review of the Securities and Exchange Act, SEC finds that certain provisions of the law do not support the issuance of debt securities under the current economic situations. For example, the
On 2 March 2023, the SEC Board Meeting No. 5/2566 passed a resolution approving in principle the proposed amendments to the regulations regarding the ICO of investment token, digital asset custodial wallet provider, and other rules related to the digital asset business operations. The main objectives of the proposed amendments were to build an adequate and appropriate investor protection mechanisms in alignment with associated digital asset risks, while continuing to support the use of technolog...
) The Securities and Exchange Act to be amended to enable SEC to register the audit firms in the capital market and to supervise and impose sanction on an audit firm in the capital market found by SEC
The provisions proposed to be added are as follows: (1) Provision that will require the association to operate its affairs in accordance with the rules prescribed by SEC Board. If
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