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Key players in mutual fund and private fund

 


1. Major Shareholders

 

       1.1 Securities and Exchange Act B.E. 2535

 

        Relevant regulations

 

               ● The Notification of the Ministry of Finance Re: Prescription of Conditions for Securities Company to Apply for Approval of Person to be Major Shareholder

 

               ● Notification of the Securities and Exchange Commission No. Kor Thor. 33/2545 Re: Rules, Conditions and Procedures for Application for Approval and Granting of Approval for Change in Shareholding Structure of a Securities Company

 

               ● Notification of the Office of the Securities and Exchange Commission No.Sor Thor/Nor. 26/2545 Re: Prescribing Factors in Considering the Seriousness of Behavior as Prohibited Characteristics of Persons who are or will be Major Shareholders of the Securities Companies.

 

               ● Notification of the Office of the Securities and Exchange Commission No. Sor Thor. 31/2543 Re: Forms of Application for Approval of Persons who are or will be Major Shareholders of the Securities Companies

 

       1.2 Derivatives Act B.E. 2546  

 

       Relevant regulation

 

              ● Notification of the Office of the Securities and Exchange Commission Concerning Guideline on Application for Approval of Persons who are or will be Major Shareholders of a Derivatives Business Operator B.E. 2550

 
 

2. Executives


       2.1 Securities and Exchange Act B.E. 2535

 

        Relevant regulations

 

              ● Notification of Capital Market Supervisory Board No. Tor Thor/Nor/Khor 37/2553 Re: Prohibited Characteristics of Personnel in Capital Market Industry

 

              ● Notification of Capital Market Supervisory Board No. Tor Thor/Nor/Khor. 58/2552 Re: Qualifications and Other Prohibited Characteristics of Directors and Executives of Securities Companies

 

              ● Notification of Capital Market Supervisory Board No. Tor Thor Nor Khor. 7/2553 Re: Rules Conditions and Procedures for Being Director or Executive of Other Securities Companies

 

              ● Notification of the Office of the Securities and Exchange Commission No. Sor Thor 49/2549 Re: Rules on Exemption from Appointment of Independent Director of Securities Companies

 

              ● Notification of the Office of the Securities and Exchange Commission Concerning Guidelines for Application and Approval for Appointment of Person to be Director or Manager of Securities Company B.E. 2553

 

              ● Notification of the Office of the Securities and Exchange Commission No. OrThor/Nor. 3/2542 Re: Code of Ethics for the Executives of the Securities Company

 

       2.2 Derivatives Act B.E. 2546   

 

       Relevant regulations

 

             ● Notification of Capital Market Supervisory Board No. Tor Thor/Nor/Khor 37/2553 Re: Prohibited Characteristics of Personnel in Capital Market Industry

 

             ● Notification of Capital Market Supervisory Board No. Tor Thor/Nor/Khor 87/2552 Re: Qualifications and Prohibited Characteristics of Directors and Executives of Derivatives Business Operators

 

             ● Notification of the Office of the Securities and Exchange Commission No. Or Thor/Nor/Khor. 11/2548 Re: Practical Guideline on Application for Approval and Approval for Appointment of an Executive of a Derivatives Business Operator

 
 

3. Fund Managers

 

Fund managers, assigned by management company, are responsible for making investment in accordance with the mutual fund’s objective and investment policy specified in the constitutive documents. Fund managers are required to be approved by the SEC. Approval criteria include relevant knowledge and experience, knowledge on laws, professional ethic and standards and no subject to statutory disqualification.

 

       3.1 Securities and Exchange Act B.E. 2535

 

       Relevant regulations

 

              ● Notification of the Office of the Securities and Exchange Commission Governing Rules, Conditions and Procedures for Appointment and Conduct of Fund Manager B.E. 2552

 

       3.2 Derivatives Act B.E. 2546

 

       Relevant regulations

 

              ● Notification of the Office of the Securities and Exchange Commission Governing Rules, Conditions and Procedures for Appointment and Conduct of Derivatives Investment Manager B.E. 2552

 
 

4. Property Fund Managers

 

 

5. Fund Supervisors

 

Mutual fund supervisor (performing the roles equivalent to those of a trustee) is entrusted with fiduciary duties in that it shall act for the best interest of unitholders. Mutual fund supervisor shall ensure that the investment of mutual fund follows the constitutive documents approved by the SEC, confirm that the net asset value of the mutual fund is valued properly, hold in safe-keeping, administer the movement of and register mutual fund assets to ensure accuracy, monitor the investment of mutual fund and file a legal action in court on behalf of unitholders in case of noncompliance caused by the management company. Mutual fund supervisor shall be a financial institution registered with the SEC. The registration criteria are based on “fit & proper” principles. Fund supervisor shall not be connected to the management company either directly or indirectly nor have an interest in fund management which may jeopardize its independence.

 

       Relevant regulations

 

              ● Notification of the Office of the Securities and Exchange Commission No. Sor Nor. 14/2544 Re: Qualifications of Mutual Fund Supervisors

 

              ● Notification of the Office of the Securities and Exchange Commission Concerning Registration of Persons Qualified to Be Mutual Fund Supervisors

 

              ● Notification of the Office of the Securities and Exchange Commission No. Or Nor. 1/2545 Re: Making Reference to Previously Submitted Documentation

 
 

6. Custodians

 

Assigned by the management company or customer, a custodian is responsible for holding in safe-keeping, administering the movement of, registering and carrying out inventory control to assure the accuracy for the fund assets. In addition, custodian shall collect information on income from such assets and prepare a report for the management company. Custodian shall be “fit & proper” and approved by the SEC. 

 

       6.1 Securities and Exchange Act B.E. 2535  

 

       Relevant regulations

 

              ● Notification of the Capital Market Supervisory Board No. Tor Nor. 20/2552 Re: Rules, Conditions, and Procedures for Approval of the Private Fund Custodian

 

              ● Notification of the Office of the Securities and Exchange Commission No. Sor Nor. 18/2543 Re: Criteria for Considering Disqualification of Director or Manager of Custodian of Private Fund

 

              ● Notification of the Office of the Securities and Exchange Commission No. Sor Nor. 27/2543 Re: Rules, Conditions and Procedures Regarding Clients’ Assets Received by A Custodian

 

              ● Notification of the Office of the Securities and Exchange Commission No. SorNor. 31/2547 Re: Appointing System of Custodian Agent

 

              ● Notification of the Office of the Securities and Exchange Commission No. Or Nor. 1/2545 Re: Making Reference to Previously Submitted Documentation

 

       6.2 Derivatives Act B.E. 2546

 

       Relevant regulations

       (N/A)


 
 
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Last updated on 01 October 2013
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