During 22 March – 25 April 2024, the SEC conducted a public hearing on the proposed principles for amending the qualifications of bondholders’ representatives. Most respondents agreed with the proposed amendments. The SEC has therefore drafted the regulations and is now conducting this public hearing on the draft regulations , with the key points as summarized below:
          (1) To entitle, in case of securities companies, those who operate in the securities brokerage, dealing or underwriting of debt securities and Sukuk to register as a bondholders’ representative;  
          (2)  To entitle funding portals to register as a bondholders’ representative, limited to the bond issues that they act as a service provider, to support secured debt crowdfunding;  
          (3) To require bondholders’ representatives to have paid-up registered capital at a minimum of 25 million baht, comparable to securities companies that maintain clients' assets in custody. Moreover, funding portals who act as a bondholders’ representative would be required to maintain proper financial qualifications throughout the operation.    

The consultation paper is available at: https://www.sec.or.th/TH/Pages/PB_Detail.aspx?SECID=999 and the legal hub at: https://law.go.th/. Stakeholders and Interested parties are welcome to submit comments and recommendations via the websites or emails: jaruwan@sec.or.th or wipawee@sec.or.th. The public hearing ends on 15 July 2024.  

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