SEC Secretary-General Ruenvadee Suwanmongkol said: “By 2021, Thailand will have become a full-scale aging society with the elderly population accounting for 20 percent of the total population. Yet, most of today’s documented workforce are unlikely to earn adequate income after retirement. Given this landscape, retirement savings has become a part of the national agenda stated in the 20-Year National Strategy, the 12th National Economic and Social Development Plan and the Capital Market De...
undue burden to the business. SEC, therefore, proposes to amend the regulations by requiring the business operators to submit the report in electronic form instead of paper in order to reduce burden on
The SEC Thailand also proposed to be a host country candidate for the IOSCO Annual Conference in 2022 – the year of the SEC Thailand’s 30th Anniversary. The official proposal will be submitted to the IOSCO within 7 June 2019. The discussion between the IOSCO and the SEC took place at Hilton Hotel in Sydney, Australia during the IOSCO Annual Conference, hosted by the Australian Securities and Investments Commission during 13-17 May 2019. The SEC candidacy as a host country of the IO...
Thailand is expected to become a complete aged society by 2022, with the elderly population accounting for 20 percent of the total population. Yet, most of today’s documented workforce are unlikely to earn adequate income after retirement. Therefore, the Ministry of Finance has proposed the draft National Pension Fund Act to enable mandatory retirement saving scheme for documented workers, which could ultimately enhance their retirement savings and income.The Provident Fund Act B.E. 2530 (1987)...
The Office of Securities and Exchange Commission (SEC) is considering amendments to the laws administered by SEC in order to increase the efficiency of law enforcement. The Agency proposes to
Bangkok, March 5, 2012 ? The SEC board is proposing to amend the Provident Fund Act of 1987 in the following areas:(1) Employee will be able to pay savings into the fund at the rate higher than employer?s contribution to raise employee?s savings without requiring employer?s additional contribution. At present, the law prescribes that employer shall pay the contribution into the fund at the rate not less than employee?s savings. (2) Employee whose membership is terminated due to resignment will...
SEC is proposing amendment to the guidelines for supervising auditors and audit firms in the Thai capital market to enhance the audit quality oversight of audit firms and promote the development of audit quality of auditors. In preparing for the amendment proposal, SEC has assigned Thailand Development Research Institute (TDRI) to study and analyze laws and mechanisms related to supervision on auditors and audit firms in the Thai capital market in comparison to foreign counterparts and to...
On 27 November 2019, SEC Secretary-General Ruenvadee Suwanmongkol presented to the conference on the SEC performance in driving the UNGPs in Asia - lessons learned, challenges, innovations - Part 1 “The progress of government action on the National Action Plan on Business and Human Rights and implementation that extends the National Action Plan” together with representatives from Japan, Indonesia, India, Pakistan and Nepal. Professor Dr. Surya Deva, a member of the UN Working Group on busi...
SEC studied regulations in other countries to find proper guidelines for supervision, focusing on standardized services and putting investors first. The matter is still under the discussion with the securities business operators. The proposed guidelines and this public hearing will be presented to securities business operators who plan to apply fintech in the capital markets must comply as follows: (1) Implement a policy on fintech application at board or executives level ; (2) ...