morality, the SEC has the power to refuse registering the persons as directors of the association. When it is apparent that the board of directors, directors or members of the associations undertake any
of Thailand issued regulations and supervised business operation of securities companies. The Stock Exchange of Thailand oversaw members’ operation pursuant to the rules drafted by the Bank of Thailand
means any legal entity obtaining the license to undertake securities business which is not: (1) any legal entity supervised by any other governmental agencies before obtaining securities business license