No. 1 / 2014
Wednesday 08 January 2014
Bangkok, January 8, 2014 – The SEC announced the strategic plan 2014-2016 and key initiatives to kick off in 2014 emphasizing continued five key strategies to enhance supervisory efficiency, sharpen market competitiveness, foster sustainable development, promote financial literacy and long-term savings for public and improve corporate governance and enforcement. The plan also goes on to promote opportunities and mutual benefits of capital markets from the growth of emerging Asia and to be more focus on intermediaries’ roles for better investor protection.
Vorapol Socatiyanurak, SEC Secretary-General said The SEC’s strategic plan aims at stepping up the development of the Thai capital market in terms of liquidity, market capitalization, corporate governance, and sustainable development to increase visibility and gain recognition of the Thai market in the international community. The SEC laid out the plan by taking into account compatibility with international standards, market accessibility for all types of businesses nationwide, equal opportunities from the upcoming ASEAN Economic Community, inequality reduction, and aging society.
Key initiatives to be launched in 2014 are, for example, introduction of professional wealth advisor to provide a service of personal asset allocation and organizing series of financial literacy projects to reach the main targets, e.g. new generation workers in the national employment system and students. In addition, long-term savings tools for specific professions, such as direct sales, will be developed and more varieties of investment channels will be created to serve the public needs, such as convenient stores, modern trades. The initiatives would help raise public awareness and understanding in savings and investments and enable them to access the products suitable to their investment profile with a view to saving sufficient assets for their retirements.
The SEC will also focus on building a solid foundation for sustainable development by promoting the roles and duties of directors, independent directors and audit committees; supporting private sector collective action coalition against corruption project, elevating enforcement efficiency covering amending securities law, pushing forward the enactment of important laws, and strengthening sanctions against non-compliances.
Furthermore, the SEC plans to drive the Thai capital market to become a regional investment hub. Several measures to be carried out include issuance of regulations to accommodate the offerings of overseas financial instruments – equities, debt instruments, and mutual funds; and conducting comparative studies on laws and regulations of specified foreign jurisdictions to facilitate the listing of foreign securities on the Thai bourse.