) Disclosure and transparency; The chapter identifies key areas of disclosure, such as the financial and operating results, company objectives, major share ownership, remuneration, related party transactions

share- holders (through what is known as 'tunnelling' 3 ), or misrepresenting an individual company's financial statements (of particular concern where the company is under pressure to meet expectations

system ● Put in place a “competency-based” management system for staff performance evaluation and development ● Adopted a “performance-based” rewards system, with an appropriate employee compensation

efforts in strengthening corporate governance in the industry. In the year ahead, countless different challenges are bound to arise and test our strengths, but I believe the SEC management and staff will

85 87 88 102 102 103 Total staff: 422 2 Broker-Dealer Supervision Dept. 36 staff Market Supervision Dept. 9 staff Supervision Dept. 43 staff Supervision Dept. 29 staff Securities Business Senior

will get all five seats, as s/he will always outvote the minority share- holder by 80:20. cumulative voting would allow the minority shareholder to cast all his/her votes (five times 20 percent) for one

arbitration procedure between investors and market intermediaries, the introduction of regulations that requires all staff of market intermediaries who are in touch with investors to possess professional

depository shall not have any of the following characteristics: (1) is or was an executive director, executive, staff member, employee, or advisor, or is holding or held any other equivalent position, of the

Thai capital market today results from the cooperation and support of all market participants including staff of the SEC. In this connection, on behalf of SEC commissioners, I would like to express my

objectives. Therefore, the SEC places strong emphasis on outcome-based development of employee competencies to ensure effective job performance for the benefit of investors, other stakeholders and the general