-Unofficial translation-

Ministerial Regulation Concerning Approval on Undertaking of Securities Business
in the Category of Inter - dealer B​rokerage B.E. 2545  

 

By virtue of Section 7 and the fourth paragraph of Section 90 the Securities and Exchange Act B.E. 2535 which is an Act containing provisions in relation to restrictions of rights and liberties of persons, in respect of which Section 29 in conjunction with Sections, 35,36,45,48 and 50 of the Constitution of the Kingdom of Thailand allow to be done by provisions of law, the Finance Minister prescribes the Ministerial Regulations as follows: 

 

Clause 1 Person eligible to apply for license to undertake securities business in the category of inter - dealer brokerage shall-
(1) not have shareholder or controlling person with proportion or characteristics as specified by the SEC;
(2) have honest executives as apparent from working records, who are capable and have experiences beneficial to business operation;
(3) have measure to control and manage risks associated with business operation;
(4) have effective measure on internal control with respect to business operation;
(5) have operational system promptly for providing services.

 

 

Clause 2 Person intending to undertake securities business in the category of inter - dealer brokerage shall file an application for approval of establishment of limited company or public limited company to undertake such business with the SEC Office, provided that such application shall be in form and attached with supplementary documents as specified by the SEC.

 
 

Clause 3 In case where the SEC is of the view that limited company or public limited company to be established has qualifications as specified in this Ministerial Regulation, the SEC shall recommend the Minister to approve establishment of such company within one hundred and twenty days from the date on which the SEC Office receives complete application and supplementary documents.

 
 

The Minister shall complete his consideration on granting approval for establishment of company in accordance with the first paragraph within thirty days from the date receiving the SEC’s recommendation.

 
 
Clause 4 Upon the Minister’s approval under Clause 3, approved person shall proceed with establishment of limited company or public limited company to undertake securities business in the category of inter - dealer brokerage. Newly established limited company or public limited company shall, within one hundred and twenty days from the date of approval, file an application for securities business
license in the category of inter dealer-brokerage with the SEC Office, provided that the application shall be in form and filed together with supplementary documents as specified in the SEC’s Notification.

 

 
 

In case where approved person fails to establish limited company or public limited company or fails to file an application for securities business license within the period of time specified under the first paragraph, such approval shall be terminated.

  

 

Clause 5 In case where the SEC is of the view that newly established limited company or public limited company has qualifications as specified in this Ministerial Regulation, the SEC shall recommend the Minister the SEC shall recommend the Minister to make consideration regarding issuance of license within forty-five days from the date on which the SEC Office receives complete application and supplementary documents. The Minister shall complete his consideration within thirty days from the date of receiving the SEC’s
recommendation.
 
Securities business license in the category of inter - dealer brokerage shall be in form as specified by the SEC.
 
 
 

Clause 6 In issuance of securities business license in the category of inter - dealer brokerage, there shall be a condition specifying that the licensee shall maintain its qualifications as specified in this Ministerial Regulation throughout the license period shall undertake business operation in accordance with criteria, conditions and procedures as specified in the SEC’s Notification.

 

 

Clause 7 Fees shall be prescribed as follows:
(1) Application fee Baht 10,000;
(2) Inter - dealer brokerage license Baht 100,000

 

The licensee shall pay fee for securities business license on the date of obtaining the license.


 

Given on the date of 31st January B.E. 2545

 

 

Somkid Jatusripitak

Finance Minister

 

 

 

 

 
 

This English version is prepared by Legal Department with the sole purpose of facilitating the comprehension of foreign participants in the SEC’s rules and regulations and shall not in any event be construed or interpreted as having effect in substitution for or supplementary to the Thai version thereof.

 

 
Please note that the translation has not been subjected to an official review by the SEC Office. The SEC Office, accordingly, cannot undertake any responsibility for its accuracy, nor be held liable for any loss or damages arising out of or in connection with its use.