SEC Assistant Secretary-General Praoporn Senanarong said: “The debt crowdfunding* scheme is part of the SEC’s regulatory efforts to support the governmental policy on promoting greater access to alternative financing resources for SMEs and startups to raise fund and expand their business growth. The new scheme follows a similar regulatory framework governing the existing equity crowdfunding rules.    Pursuant to the new regulations, an eligible fundraiser for the crowdfunding scheme must...

While all securities companies were required to have paid-up registered capital at the same amount of 100 million baht, the new rules require that applicants and licensees of all types of securities business, including securities dealing, securities underwriting, proprietary investment and securities custody, have paid-up registered capital at the following different amounts:                            (1)  100 million baht for undertaking securities business with the obligation towards cl...

Essentially, the new rules allow securities brokers and derivatives agents to provide two types of trading services of capital market products that respond to investors’ demands more efficiently, namely (1) program trading service that automates trading order execution according to clients’ selected investment strategy* and (2) portfolio advisory with execution service.** Both of the services are exempted from the securities business license in the category of private fund management and...

Bangkok, 17 January 2023 – The Securities and Exchange Commission (SEC) has issued regulations requiring digital asset business operators that provide custody of clients’ digital assets to establish a digital wallet management system to accommodate efficient custody of digital assets and keys* and ensure safety of clients’ assets.   The regulations cover the following requirements:  (1)  Policy and guidelines for overseeing risk management and management of digital wallets and keys as well as co...

Pursuant to Section 89/25* of the SEA, the auditor who perform an audit in accordance with the auditing standards has the duty to report to the Audit Committee of the securities company** or the Audit Committee of the listed company if there is any suspicious circumstance that indicates that a director, manager or the person responsible for the operation of the juristic person may have committed an offense under Section 89/25*, for example, taking the assets of the juristic person with dis...

Earlier on 20 January 2021, the SEC and the Securities and Futures Commission of Hong Kong (SFC) signed a Memorandum of Understanding concerning the Mutual Recognition of Funds between Hong Kong Special Administrative Region of the People's Republic of China and Thailand to facilitate cross-border offerings of funds between Hong Kong and Thailand for asset management companies by recognizing each other’s fund standards. In this connection, the SEC has issued regulations for such cross-border off...

During the meeting, both parties discussed the importance of enhancing cooperation between CSRC and SEC Thailand based on MoU signed in 2007, in response to global and regional challenges, and exchanged views on feasible ways to promote cross-border investment between the capital markets of both countries.In addition, the meeting agreed to look into the possibility of enhancing cross-border investment between both capital markets. Both parties also discussed and exchanged regulatory views o...

The new regulations allow insurance companies to issue and offer for sale of insurance capital bonds. Initially, such offering must be in private placement scheme to no more than 10 investors (PP-10) and to institutional investors (II) only. In addition, the applicant must seek an approval from the Office of Insurance Commission (OIC) before filing an application for approval of such bond offering with SEC. After the offer for sale of insurance capital bond, the issuer is also required to...

Pursuant to Section 6(3) and Section 8(1) of the Royal Decree No. 750 issued by the Revenue Department, any VC or PE Trust wishing to receive revenue tax exemption is required to notify its VC or PE Trust status with the SEC. Such VC or PE Trust must also have qualifications in accordance with the rules, procedures and conditions as specified by the Director-General of the Revenue Department.  The SEC has therefore issued related regulations whereby VC or PE Trust wishing to receive revenue tax...

With this manual as guidance, it is expected that the business operators will accordingly review their risk management policies and procedures and report the results to the SEC as part of their 2024 annual compliance reports. In this front, reporting of any non-application or unfinished application of the recommended guidelines shall be accompanied by the explanation of the associated reasons, as an additional report, which is approved by the company’s board or audit committee. The SEC is...