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 establish witness protection measures which can be granted during the stage of SEC’s investigation. The measures will provide SEC another prospect to obtain credible information and evidence that will enable the Agency to bring more legal actions, either criminal or civil, against offenders. Whereas...
At the beginning of 2017, SEC held a public consultation on the proposed principal for revising information of the schemes and obligations of property funds and infrastructure funds. The business and investment communities duly gave comments.This time, SEC makes eight revised draft notifications in accordance with the proposed principal. Regarding the management of property funds and the prospectus, the proposed amendments are made to align with the regulations on REITs and to correspond...
Bangkok, January 21, 2013 ? According to the news coverage on an interview of Mr. Sompoch Ahunai, Chief Executive Officer of Energy Absolute PLC, concerning financial information and forward-looking statements, certain information appeared in the interview was different from that disclosed in the registration statement (filing form). The differences include the information on gross profit indicated at 10% while 5.05% of gross profit for the first 9 months of 2012 was disclosed in the registratio...
The SEC’s inspection on the operation of Huobi as a digital asset exchange operator during February 2021 - March 2021 detected deficiencies and insufficiency in Huobi’s management structure and work systems, causing the company to fail to operate its business in compliance with the governing regulations. Therefore, on 19 March 2021, by virtue of Section 35 Paragraph 1 of the Emergency Decree on Digital Asset Businesses B.E. 2561 (2018) (Emergency Decree), the SEC Board Meeting No. 5/2564 p...
Under the proposed regulations, in order to be qualified for exemption, the futures exchange, derivatives clearing house, securities clearing house and securities depository shall submit its rule to the SEC Office at least 10 working days before the intended effective date of such rule, along with a brief report on comments from the stakeholders (if any). The types of rule that can rely on this exemption are as follows: (1) Rules that carry the material context similar to that state...
Early this year, SEC held public hearings to obtain views on establishing rules that require companies issuing IPOs to disclose information related with the offering for sale of their securities in an audiovisual format in a bid to respond to the changing behaviors of investors, who tend to use the Internet more as a channel to receive information and do not spend as much time on reading long information disclosure forms. This idea was well supported from both business operators and inves...
The provisions proposed to be added are as follows: (1) Provision that will require the association to operate its affairs in accordance with the rules prescribed by SEC Board. If, however, there is any matter that SEC Board has not specifically specified, then the provisions under the Trade Association Act will be applied mutatis mutandis; (2) Provision that will allow the association to invest in certain types of securities, provided that, such investment is made...
Pursuant to Section 89/25 of the SEA, the auditor has the duty to report suspicious circumstances that were found from the audit in accordance with the auditing standards. SEC therefore proposes the principle and the draft regulation which would require the auditor to report to the Audit Committee of securities company** or the Audit Committee of listed company any suspicious circumstance that indicates that a director, manager or the person responsible for the operation of a juristic per...