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SEC public hearing on proposed amendments to the Securities and Exchange Act to accommodate electronic securities issuance



Tuesday 21 May 2024 | No. 105 / 2024


Bangkok, 21 May 2024 – The Securities and Exchange Commission (SEC) is seeking public comments on the draft Securities and Exchange Act (No. …) B.E. ... to accommodate electronic securities issuance by facilitating the use of technology in product issuance and transactions in the capital market, and to enhance the country's competitiveness in the digital economy. 
 

The Draft aims to improve legal provisions to be more suitable for the current situation, as well as to accommodate future technological advancements. It also ensures the legal effects of electronic securities issuance together with proper supervision, considering the practicality relating to electronic securities such as transfer and delivery, registry, and the use as collateral and its enforceability. This also includes the provisions that authorize the relevant authority to set standards to enhance confidence in capital market activities. The Draft has already been reviewed by the Office of the Council of State.

In brief, the Draft includes the following amendments: 

1. Add provisions to accommodate electronic securities issuance (Part 2/1: Electronic Securities, from Section 62/1 to Section 62/11); and

  2. Specify penalties for violations or non-compliance with the criteria concerning electronic securities (amending Section 273 and Section 317 and adding Section 275/1 and Section 275/2).


The consultation paper is available at https://www.sec.or.th/TH/Pages/PB_Detail.aspx?SECID=992 Stakeholders and Interested parties are welcome to submit comments and suggestions through the SEC’s website or email: legal@sec.or.th until 4 June 2024, or through the central legal system at https://www.law.go.th/listeningDetail?survey_id=Mzc4NkRHQV9MQVdfRlJPTlRFTkQ= until 30 May 2024.  


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Building Confidence in the Capital Market
NEWS
Securities and Exchange Commission
Corporate Communication and Investor Service Department
Tel. (66)2033-9502-5 E-mail: press@sec.or.th
No. 105 / 2024 Tuesday 21 May 2024
SEC public hearing on proposed amendments to the Securities and Exchange Act to accommodate electronic securities issuance

Bangkok, 21 May 2024 – The Securities and Exchange Commission (SEC) is seeking public comments on the draft Securities and Exchange Act (No. …) B.E. ... to accommodate electronic securities issuance by facilitating the use of technology in product issuance and transactions in the capital market, and to enhance the country's competitiveness in the digital economy. 
 

The Draft aims to improve legal provisions to be more suitable for the current situation, as well as to accommodate future technological advancements. It also ensures the legal effects of electronic securities issuance together with proper supervision, considering the practicality relating to electronic securities such as transfer and delivery, registry, and the use as collateral and its enforceability. This also includes the provisions that authorize the relevant authority to set standards to enhance confidence in capital market activities. The Draft has already been reviewed by the Office of the Council of State.

In brief, the Draft includes the following amendments: 

1. Add provisions to accommodate electronic securities issuance (Part 2/1: Electronic Securities, from Section 62/1 to Section 62/11); and

  2. Specify penalties for violations or non-compliance with the criteria concerning electronic securities (amending Section 273 and Section 317 and adding Section 275/1 and Section 275/2).


The consultation paper is available at https://www.sec.or.th/TH/Pages/PB_Detail.aspx?SECID=992 Stakeholders and Interested parties are welcome to submit comments and suggestions through the SEC’s website or email: legal@sec.or.th until 4 June 2024, or through the central legal system at https://www.law.go.th/listeningDetail?survey_id=Mzc4NkRHQV9MQVdfRlJPTlRFTkQ= until 30 May 2024.  


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