voting guidelines.   Vorrapol Socatiyanurak, Secretary-General of the Securities and Exchange Commission, Thailand (SEC) said that ?The institutional investors? attempt to set precedence in exercising

of conduct, CRAs should keep in mind that the laws and regulations of the jurisdictions in which they operate vary and take precedence over the IOSCO CRA Code. These laws and regulations may include

and take precedence over the IOSCO CRA Code. These laws and regulations may include direct regulation of CRAs and may incorporate elements of the IOSCO CRA Code itself. Finally, the IOSCO CRA Code only