worked for Country Group), had used incomplete Customer Confirmation and Portfolio reports in substitution for order tickets. Their actions were deemed as failure to record the customers? securities
Bangkok, November 10, 2011 ? The Securities and Exchange Commission has passed a resolution at the monthly meeting No. 12/2011 allowing amendment to the regulations governing local and foreign credit rating agencies in response to the changing business environment and in line with the International Organization of Securities Commissions (IOSCO) standards. The revision requires that locally-based CRAs implement efficient, reliable and systematic credit rating methodologies and operate independen...
Cryptocurrency is a financial innovation that is exposed to high volatility. Investment in this digital asset thus requires knowledge and understanding and a risk profile that is not so sensitive to investment loss. The SEC is therefore proposing to specify the qualifications of cryptocurrency investors to ensure proper investor protection mechanism in consistent with the level of risk related to the product. In essence, the public consultation is on the proposed qualifications of cr...
The Securities and Exchange Commission (SEC), led by Secretary-General Pornanong Budsaratragoon, along with SEC executives, held a meeting with the Thai Listed Companies Association (TLCA), led by Chairman Chanin Vongkusolkit and TLCA members, to discuss strategies for the development and promotion of supervision over listed companies. The discussions covered measures to prevent adverse behaviors of listed companies, as well as other policy directions that would help reduce challenges to...
The Securities and Exchange Commission (SEC), led by Secretary-General Pornanong Budsaratragoon along with executives, and the Thai Digital Asset Association, led by President Nares Laopannarai, held a joint meeting to discuss and exchange views on strategies for promoting, developing, and supervising digital assets, including the involvement of the government, the Thai Digital Asset Association, and Thailand digital asset community. The joint meeting took place at the SEC building on 26...
During January – March this year, the SEC conducted a public hearing on proposed amendments to the PVD Act to support the development of fund structure, enhance the member protection mechanism with fair treatment and transparency, and increase flexibility for management of member contribution. Most respondents agreed with the proposed amendments and suggested further details for the amendments. The SEC has taken the public and stakeholders’ comments and recommendations into consideration....
Real estate-backed ICO is in the form of fundraising and benefit generation similar to REIT. However, the regulations governing real estate-backed ICO with regard to investor protection mechanism are different from REIT regulations. For example, the real estate-backed ICO currently lacks a mechanism for monitoring and overseeing the management of assets and for protecting the interest of digital token holders.The SEC has therefore amended the regulations governing supervision of real estat...
management, compliance, and internal audit based on the principles of the Three Lines of Defense to ensure the effectiveness of securities company oversight and to further promote recognition of the
, which will lead to the improvement of the audit oversight in Thailand” SEC gives priority to audit quality which is an essential factor to raise the credibility of the financial