The SEC is a regulatory body that carries a mission to develop and supervise the Thai capital market to ensure efficiency, fairness, transparency, and integrity. The SEC also oversees regulatory compliance and enforces the governing laws to ensure that the capital market will be developed toward sustainable growth and generate positive impacts on the national economy.
At present, there are six legislations administered by the SEC, namely:
- the Securities and Exchange Act of 1992;
- the Derivatives Act of 2003;
- the Trust for Transactions in Capital Market Act of 2007;
- the Provident Fund Act of 1987;
- the Royal Enactment on Special Purpose Juristic Persons for Securitization of 1997, and
- the Emergency Decree on Digital Asset Businesses of 2018.
To determine a violation and take an action on any individual or firm, the SEC would investigate and gather information, facts and evidence concerning the violation. Generally, an alleged offender may clarify or make an argument with evidence against the allegation before the SEC commences the consideration of the case except when it is necessary and appropriate for the SEC to take a prompt action to prevent severe damage or a negative impact on public interest, or when a chance to clarify cannot be given to the alleged offender per se.
If the gathered evidence presents a sufficient ground for enforcement, the SEC is empowered to take any of the following actions, as the case maybe:
(1) Administrative Actions,
(2) Criminal Actions, and
(3) Civil Sanctions
A flowchart of Procedure for Investigation and Enforcement Measures