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SEC and SET co-organized, together with other three parties, a seminar on “Class Action Lawsuit” for the interest of investors and the public



Monday 7 August 2023 | No. 138 / 2023


Bangkok, 7 August 2023 – The SEC, together with the Stock Exchange of Thailand (SET), the Thai Investors Association, and the Faculty of Law, Chulalongkorn University held a seminar on “Class Action Lawsuit” for the interested public and investors to enhance their understanding about the class action legal proceedings and to help those having suffered from the wrongdoings in the offences under the Securities and Exchange Act protect their rights and have a channel for legal remedy. The seminar took place at the Sukree Kaewcharoen Auditorium, the SET on 7 August 2023.

Since the class action law came into force in 2015, the SEC has continuously publicized the information about the law to enhance knowledge and understanding of investors and interested parties, through the SEC’s communication channels and mass media, in the forms of infographics, articles, as well as educational seminars organized in cooperation with related agencies. In carrying out investor protection mandate, education is an SEC’s crucial tool. 

“This seminar on class action legal proceedings will enhance knowledge of investors and interested parties about steps and procedures of the lawsuit, from the beginning to the end. This type of lawsuit is another solid legal option for investor protection and remedy,” said Mr. Thawatchai Pittayasophon, SEC Deputy Secretary-General, Acting Secretary-General.

“Class action is another legal mechanism that can help with the redress and relief of those investors or shareholders having suffered from securities law infringements. So, this “Class Action Lawsuit” forum provides a good opportunity for discussions and exchange of views, by which knowledge and understanding of all parties concerned can be enhanced,” said Mr. Rongrak Phanapavudhikul, SET Senior Executive Vice President, Legal Affairs.

The panel of guest speakers consisted of experts from academics, legal, and legal counseling fields, namely Mr. Pongdej Wanichkittikul, the Presiding Justice of the Court of Appeal, the Court of Appeal Region I, Dr. Poomsiri Dumrongvute, Lecturer of the Faculty of Law, Chulalongkorn University, and Mr. Jinnah Yamuam, Money and Banking subcommittee member, Thailand Consumers Council. To provide the audience with a clearer picture of class action legal proceedings, the panelists discussed and exchanged views and experience, theoretical and practical, in relation to this type of lawsuit, e.g. steps, procedures, and time frame to be taken, types of cases that may be requested for a class action, litigation expenses, and proportion of settlement compensation to be distributed to the injured persons.





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NEWS
Securities and Exchange Commission
Corporate Communication and Investor Service Department
Tel. (66)2033-9502-5 E-mail: press@sec.or.th
No. 138 / 2023 Monday 7 August 2023
SEC and SET co-organized, together with other three parties, a seminar on “Class Action Lawsuit” for the interest of investors and the public

Bangkok, 7 August 2023 – The SEC, together with the Stock Exchange of Thailand (SET), the Thai Investors Association, and the Faculty of Law, Chulalongkorn University held a seminar on “Class Action Lawsuit” for the interested public and investors to enhance their understanding about the class action legal proceedings and to help those having suffered from the wrongdoings in the offences under the Securities and Exchange Act protect their rights and have a channel for legal remedy. The seminar took place at the Sukree Kaewcharoen Auditorium, the SET on 7 August 2023.

Since the class action law came into force in 2015, the SEC has continuously publicized the information about the law to enhance knowledge and understanding of investors and interested parties, through the SEC’s communication channels and mass media, in the forms of infographics, articles, as well as educational seminars organized in cooperation with related agencies. In carrying out investor protection mandate, education is an SEC’s crucial tool. 

“This seminar on class action legal proceedings will enhance knowledge of investors and interested parties about steps and procedures of the lawsuit, from the beginning to the end. This type of lawsuit is another solid legal option for investor protection and remedy,” said Mr. Thawatchai Pittayasophon, SEC Deputy Secretary-General, Acting Secretary-General.

“Class action is another legal mechanism that can help with the redress and relief of those investors or shareholders having suffered from securities law infringements. So, this “Class Action Lawsuit” forum provides a good opportunity for discussions and exchange of views, by which knowledge and understanding of all parties concerned can be enhanced,” said Mr. Rongrak Phanapavudhikul, SET Senior Executive Vice President, Legal Affairs.

The panel of guest speakers consisted of experts from academics, legal, and legal counseling fields, namely Mr. Pongdej Wanichkittikul, the Presiding Justice of the Court of Appeal, the Court of Appeal Region I, Dr. Poomsiri Dumrongvute, Lecturer of the Faculty of Law, Chulalongkorn University, and Mr. Jinnah Yamuam, Money and Banking subcommittee member, Thailand Consumers Council. To provide the audience with a clearer picture of class action legal proceedings, the panelists discussed and exchanged views and experience, theoretical and practical, in relation to this type of lawsuit, e.g. steps, procedures, and time frame to be taken, types of cases that may be requested for a class action, litigation expenses, and proportion of settlement compensation to be distributed to the injured persons.