The SEC has revised the Institutional Investor definition, stipulating that PF is considered an institutional investor without the requirement to look through and assess the qualifications of PF individual clients. This is because PF is managed by licensed securities business operators in the category of private fund management (business operator) who has expertise and is supervised by the SEC. Furthermore, business operators are required to classify investors and manage their client investments in accordance with each client type. This amendment aligns regulations with PF supervisory guidelines and enhances operational flexibility for businesses, while maintaining appropriate investor protection.

The amendment* has been published in the Royal Gazette, effective from 1 May 2025.
  

Notes:

* Two relevant notifications are:   

          (1) Notification of the Securities and Exchange Commission No. Kor Jor. 39/2564 Re: Determination of Definitions of Institutional Investor, Ultra-Hight Net Worth Investor and High Net Worth Investor, dated 24 December 2021: https://publish.sec.or.th/nrs/10718p_r.pdf  

          (2) Notification of the Securities and Exchange Commission No. Kor Jor. 2/2568 Re: Determination of Definitions of Institutional Investor, Ultra-Hight Net Worth Investor and High Net Worth Investor (No. 2), dated 10 April 2025: https://publish.sec.or.th/nrs/10716s.pdf