The SEC has proposed developing a standard for the Annual Reports of AMCs undertaking mutual fund management, private fund management, or provident fund management, as well as securities companies primarily undertaking private fund management. Under the proposal, the Annual Report would serve as a “central source of information” that consolidates key information on business operations, operating performance, risk management, corporate governance, financial statements, and stewardship of investors’ interests. The objective is to enhance transparency, strengthen credibility in the asset management industry and the capital market, and support investors in having sufficient information to make appropriate decisions when selecting investment management services. Following the public hearing on the proposed principles conducted during June–July 2026, the SEC has taken the comments and recommendations received into consideration in preparing the related draft notifications, the key provisions of which are as follows:

        (1) Requiring AMCs to prepare an Annual Report presenting an overview of their business operations, taking into account the materiality of the information and providing a level of detail appropriate to the nature, size, and complexity of their business, thereby providing investors, service users, and stakeholders with the information necessary to systematically consider whether to use the services of an AMC.

        (2) Consolidating key information into a single integrated report, enabling investors to obtain an overview of an AMC and more conveniently and clearly compare business operations, corporate governance, and stewardship of investors’ interests across AMCs. This would also reduce the fragmentation of information by consolidating existing reports that AMCs are required to prepare, together with other relevant key information, into a single report.

        (3) Implementing the requirements from the 2028 accounting period, with the first publication in 2029, and requiring the Annual Report to be published on the AMC’s website or through another channel that is readily accessible to investors and submitted to the SEC within four months from the end of the accounting period. For the first year of implementation, AMCs would be allowed to publish the report within six months from the end of the accounting period to provide sufficient time to prepare the necessary data, systems, internal review processes, and relevant personnel.

The consultation paper is available on the SEC website at https://www.sec.or.th/TH/Pages/PB_Detail.aspx?SECID=1238 and on the Legal Hub at https://law.go.th/. Stakeholders and interested parties are invited to submit comments through the websites or by email to patarasaya@sec.or.th or parnward@sec.or.th. The public hearing ends on 2 December 2026.