• IOSCO Multilateral Memorandum of Understanding Concerning Consultation and Cooperation and the Exchange of Information (IOSCO MMoU)
The SEC became a signatory to the IOSCO MMoU at the IOSCO Annual Conference in 2008. This milestone reflects the SEC’s continued commitment to removing limitation on enforcement cooperation with foreign regulators. The SEC is among 109 regulators around the world (including 19 in Asia-Pacific) that are signatories of the IOSCO MMoU (as of May 2016).
The MMoU, widely accepted as global multilateral information-sharing arrangement among securities regulators around the world, has enhanced the SEC’s ability to cooperate and request information from other jurisdictions, which will ultimately enhance the SEC’s enforcement capabilities. This reflects SEC’s continued commitment to improve our supervisory standards to be widely recognized in an international arena.
• IOSCO Asia-Pacific Regional Committee (APRC)
The SEC has been actively involved in the IOSCO APRC, which comprises 25 members representing securities regulators from Asia-Pacific jurisdictions (as of May 2016). The SEC chaired the committee for two consecutive terms from 2005 to 2008.
In 2012, the SEC Thailand hosted the IOSCO APRC Meetings and Seminar. The Seminar focused on two topics: “Opportunities and challenges for SME financing through capital market”, and “Capitalizing on Regional Growth Prospects: Enlarging Opportunities for Asset Management Companies.”
• IOSCO Board Member
In addition to playing an active role as an IOSCO member, the SEC was elected as a member of the Board of International Organization of Securities Commission (IOSCO Board) in September 2014 as a representative of the IOSCO Asia-Pacific Regional Committee. Served as the member of the IOSCO Board in 2014-2016, the SEC has taken part in reviewing major securities regulatory issues with regulators of global financial centers, such as the USA, England, Japan, Australia, and Hong Kong.
In addition, the SEC also currently participates in 3 important committees of IOSCO.
1. Policy Committee on International Accounting, Auditing, and Disclosure Standards: This committee focuses on setting international disclosure, accounting and auditing standards that form the foundation of the information provided to investors, as well as considering matters related to the application of these standards. By joining the committee, the SEC is able to contribute to the development of professional standards and keep track of policy changes. In addition, the committee provides a great forum for the SEC to share the challenges facing Thailand in complying with international standards with relevant parties in the Thai capital market.
2. Policy Committee on Retail Investors: This is IOSCO’s most recently established policy committee in 2013. This committee has mandates to conduct IOSCO’s policy work on retail investor education and financial literacy, and to advise the IOSCO Board on emerging retail investor protection matters. As the Thai capital market is dominated by retail investors, the SEC has found the participation in the committee invaluable. It opens further opportunities for the SEC to contribute to the development of investor education globally, as well as to utilize the experiences of other jurisdictions towards the work on investor protection and investor education in Thailand.
3. Growth and Emerging Markets Committee: The committee undertakes a key role in formulating and carrying out policies relevant to growth and emerging markets. It comprises regulators from leading emerging markets, who are committed to strengthening the resilience of emerging markets and raising the voices of emerging regulators in the global regulatory landscape. The committee aims to proactively identify key risks and issues relevant to growth and emerging markets, as well as enhance regulatory capacity for these countries, which account for 75 percent of IOSCO members.