The SEC will issue further regulations to revise the report submission of securities companies, derivatives intermediaries and trustees. In this regard, all reporting data will be reviewed collectively and concurrently and the consideration is divided into three areas, namely (1) acceptance of reports via electronic system instead of hardcopy submission, (2) discontinuation of reports to the SEC to be replaced with other disclosure means, for example, disclosure of information via generally accessible channels of business operators or preparation and storage of information in a manner ready for retrieval upon the SEC’s request, and (3) cancellation of reports that are no longer necessary. Under the current regulations, only 33 reports can be submitted via electronic means. After the new regulations come into force, further 345 reports* will be submitted in the same method.   
 
SEC Secretary-General Ruenvadee Suwanmongkol said: “The SEC aims to facilitate e-submission services and has the concept to review the overall report submission system and to implement such action. In this regard, we take all reports into consideration and decide which reports become irrelevant and thus should be repealed and which matters can be disclosed via other means and which reports remain necessary and may be reported electronically in lieu of hardcopy submission. This streamlining process is in line with the Regulatory Guillotine scheme**. In addition, the SEC invited capital market business sectors to comment and discuss on the direction and development for e-submission services. Opinions and suggestions of private organizations in the financial and capital markets as well as those from relevant state agencies were taken into account during the focus group consultation on 26 March 2021. The SEC will notify the agenda to submit e-reports starting from the second quarter and the e-reporting acceptance is scheduled for completion within the fourth quarter of this year.”
  

* Seven types of securities business: securities brokerage, securities dealing, securities underwriting, securities investment advisory, mutual fund management, private fund management, and limited brokerage, dealing and underwriting of investment units (LBDU), are subjected to submission in total of 280 reports. Derivatives intermediaries are required to submit 22 reports. There are 43 reports for issuance and offering for sale of securities.

** Regulatory Guillotine is the regulatory review of the existing laws and regulations. The reviewed laws and regulations that are not necessary or do not keep pace with situations or remain obstacles to living or occupations will be abolished or revised to lessen burden on people. By doing so, methods used must be done with speed, transparency, low costs with participation of all related parties.