Bangkok, April 28, 2011 ? The Capital Market Supervisory Board (CMSB) at its monthly meeting held today has approved revisions to the takeover regulations as follows: 1. Any person making a public announcement of a business takeover but failing to meet certain pre-conditions for making a tender offer for securities of such business because of uncontrollable external factors will be exempted from the one-year prohibition. This is to allow the offeror to make the tender offer within one...
Bangkok, April 8, 2014 ? The SEC requires all licensees of securities and derivatives businesses appoint independent directors at least one-fourth of the board members by January 1, 2016.SEC Secretary-General Vorapol Socatiyanurak revealed that the Capital Market Supervisory Board recently approved revision of regulations on independent directors of licensed securities and derivatives business operators. The revised regulations require the said licensees appoint independent directors to perform...
Bangkok, November 14, 2014 ? The SEC revised the criteria for Turnover List preparation to better reflect current market environment. On December 4, 2014, the first Turnover List prepared under the said criteria will be announced.Vorapol Socatiyanurak, SEC Secretary-General said, ?Under the revised criteria, all shares having high turnover ratio will be listed on the Turnover List as the limit of top 50 SET-listed shares and top 5 mai- listed shares will be removed, respectively. Furthermore, l...
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...
SEC Secretary-General Rapee Sucharitkul revealed that “the financial reports are crucial for investors’ investment decision-making. The independence of auditors, which plays an important role in auditing and reviewing the financial statements, is therefore a key factor in making the financial statements reliable; and when the international standards change, SEC is required to revise the rules accordingly. The revised rules on the rotation of auditors specify that the auditors of a listed c...
Bangkok, June 21, 2011- SEC Secretary-General Thirachai Phuvanatnaranubala said after the Capital Market Supervisory Board?s Meeting that the Board resolved to revise rules on derivative warrants (DW) issuance. The revision will require DW issuer to provide a so-called ?fact sheet? which is a investor-friendly description of securities? key features, specific characteristics and risks. Fact sheet must be distributed to retail investors together with the subscription form. In case of direct listi...
Bangkok, June 21, 2011- SEC Secretary-General Thirachai Phuvanatnaranubala said after the Capital Market Supervisory Board?s Meeting that the Board resolved to revise rules on derivative warrants (DW) issuance. The revision will require DW issuer to provide a so-called ?fact sheet? which is a investor-friendly description of securities? key features, specific characteristics and risks. Fact sheet must be distributed to retail investors together with the subscription form. In case of direct li...
Bangkok, April 16, 2014 ? SEC Secretary-General Vorapol Socatiyanurak revealed that the Capital Market Supervisory Board approved to revise rules governing capital market personnel to standardize the rules across all types of personnel and compile existing rules into a single notification for ease-of-use. The compilation of rules into single notification elaborates all related guidelines of capital market personnel including new types of capital market personnel required to obtain the SEC?s appr...
The SEC Board Meeting No. 13/2566 and No. 17/2566 held on 15 August 2023 and 7 December 2023, respectively, resolved to approve the principles for revising the advertising rules for business operators. The SEC conducted a public hearing on the proposed principles and relevant draft regulations during 9 October – 7 November 2023. Most respondents supported the proposal for amending the advertising rules, which contains key points as follows: (1) Revoking the requirement for notifying details...
To enhance clarity and consistency with the current business practices of the private sector, the SEC has issued regulations revising the characteristics of “bills” deemed as “securities,” which include (1) bills of exchange and promissory notes payable or issued by a company and given to the creditor or the buyer as evidence of rights under the bills. Additionally, such bills must be accompanied by solicitation or advertisement of the issuance of the bills for the purpose of raising fund from m...