Prof. Pornanong Budsaratragoon, Ph.D., Secretary-General of the Securities and Exchange Commission (SEC), took part in the Toronto Centre Executive Panel: "Under Pressure: Building Resilient Financial Systems in a Fragmenting World," alongside representatives from the International Monetary Fund (IMF), the World Bank, and Toronto Centre. She shared perspectives on the effects of technology and the interconnectedness of the financial system, which enable risks to emerge rapidly, spread widely, and be increasingly transmitted across sectors as well as across borders. She noted that current risks may not be entirely new; rather, they may be existing risks that emerge and spread in new forms owing to technology, geopolitical factors, and market linkages. Responses must therefore prioritize resilience, both in terms of system continuity and the ability to prevent damage from spreading.

The SEC’s regulatory approach emphasizes adaptive and collaborative supervision, balancing investor protection with support for innovation, and seeking input from and working with stakeholders, particularly the business sector, from an early stage to understand new technologies and business models.

Thailand’s experience in promoting financial innovation has shown that the tokenization of financial assets can reduce costs, broaden access, and enhance market efficiency. However, these benefits become clearly evident with widespread adoption. In the initial stage, usage volumes are still low, costs are still high, and commercial viability has yet to be achieved. The SEC therefore needs to help foster innovation while learning from real-world implementation in order to formulate appropriate regulatory approaches.

In addition, the SEC places importance on regulation that is aligned with international standards and applied appropriately to the Thai market context, together with the use of data and technology in supervision, as well as the empowerment of investors to protect themselves.

At the same time, the SEC promotes interagency cooperation, as well as international and regional cooperation through the IOSCO Asia-Pacific Regional Committee (APRC) and the ASEAN Capital Markets Forum (ACMF), to address cross-border risks and support the sustainable development of the capital market.

The event was held at the Queen Sirikit National Convention Center on 16 October 2026.