The SEC Board Meeting No. 13/2566 and No. 17/2566 held on 15 August 2023 and 7 December 2023, respectively, resolved to approve the principles for revising the advertising rules for business operators. The SEC conducted a public hearing on the proposed principles and relevant draft regulations during 9 October – 7 November 2023. Most respondents supported the proposal for amending the advertising rules, which contains key points as follows:    

(1) Revoking the requirement for notifying details of each advertisement and the associated expenses to the SEC; 

(2) Advertisements need to be considered whether they are in accordance with the advertising and associated rules as well as be approved by CEO before publication. After publication, company’s compliance unit must monitor and examine all advertisements and prepare monthly report on advertising oversight for board of directors’ approval. The monthly reports are then compiled and submitted to the SEC on a quarterly basis; 

(3) Clarifying clearly that the SEC has the power to suspend, revise or order business operators to explain in case any advertisement is inconsistent with the specified rules.  

The notifications on the said rules have been published in the Royal Gazette, taking effect from 16 January 2024.  

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Remark* 

The notifications of relevant regulations are:  

         1. Notification of the Securities and Exchange Commission No. Kor Thor. 3/2567 Re: Rules, Conditions and Procedure for Undertaking Digital Asset Businesses (No. 22) dated 3 January 2024: (https://publish.sec.or.th/nrs/10052s.pdf); 

         2. Notification of the Securities and Exchange Commission No. Kor Thor. 4/2567 Re: Kor Thor. 4/2567 Re: Establishment of Compliance Unit of Digital Asset Business Operators (No. 3) dated 3 January 2024: (https://publish.sec.or.th/nrs/10053s.pdf).