The key points of the amendments to the qualifications of bondholder representatives are as follows:   

(1)  A securities company licensed to operate securities brokerage business, securities dealing business or securities underwriting business and capable of providing services related to debt securities and Sukuk is eligible to act as a bondholder representative. This is to ensure that the specified types of securities align more closely with the responsibilities of bondholder representative;       

(2) A funding portal is eligible to act as a bondholder representative but only for the debt securities for which it is the service provider. This is to support the secured debt crowdfunding;              

(3) A bondholder representative is required to have a paid-up registered capital of at least 25 million baht, comparable to a securities company that safeguards client assets. Additionally,
a funding portal acting as a bondholder representative is required to meet and maintain financial qualifications.      

The Notifications* specifying the amended regulations have been published in the Government Gazette and have become effective since 16 August 2024.  

Remarks:
* 1. Notification of the Capital Market Supervisory Board No. Tor Jor. 21/2567 Re: Qualifications of Bondholder Representatives and Roles and Responsibilities of Bondholder Representatives (No. 6), dated 30 July 2024: https://publish.sec.or.th/nrs/10290s.pdf        
  2. Notification of the Capital Market Supervisory Board No. Tor Jor. 22/2567 Re: Qualifications of Bondholder Representatives and Roles and Responsibilities of Funding Portals Acting as Bondholder Representatives, dated 30 July 2024: https://publish.sec.or.th/nrs/10291s.pdf
  3. Notification of the Capital Market Supervisory Board No. Tor Jor. 23/2567 Re: Provisions related to Securities Crowdfunding (No. 6), dated 30 July 2024: https://publish.sec.or.th/nrs/10292s.pdf