The SEC has previously amended regulations concerning the safeguarding of client assets by securities companies and derivatives brokers (business operators), allowing them, in certain circumstances, to take specific actions related to client assets without prior consent. Nevertheless, practical limitations remain in cases where business operators have undertaken all reasonable efforts but are unable to contact the client or transfer the assets to another operator. These challenges have hindered business operators from ceasing operations or relinquishing their business licenses. To address these issues, the SEC is conducting a public hearing on the additional amendments, with the key principles as follows:

(1) Expanding the scenarios under which business operators may transfer client assets to another operator without client consent, including cases where the business operator intends to relinquish all business licenses but has not yet ceased its operations;

(2) Allowing business operators that have put all reasonable efforts but are unable to contact clients or transfer their assets to another operator to submit a list of asset owners to the Central Securities Depository (CSD) in order for the securities registrar to issue securities certificates and hold them on behalf of the business operator;

(3) Requiring business operators requesting the issuance of securities certificates to disclose information on actions taken regarding such assets; for example, by publishing notices on their websites or other searchable channels for a minimum period of six months in order for their clients to trace and reclaim their assets;

(4) Requiring business operators to report to the SEC all actions taken on unclaimed assets of inactive clients;

(5) Requiring the CSD to perform the function of maintaining records of securities owners who cannot be contacted and whose assets cannot be transferred to another operator, and to make such information available to the respective securities owners in accordance with the procedures prescribed by the CSD.

The consultation paper is available on the SEC website at https://www.sec.or.th/TH/Pages/PB_Detail.aspx?SECID=1137 and the legal hub at https://law.go.th/listeningDetail?survey_id=NjQyNERHQV9MQVdfRlJPTlRFTkQ=. Stakeholders and interested parties are welcome to submit comments and suggestions via the SEC website or by email at sawarin@sec.or.th arthipha@sec.or.th wasin@sec.or.th or dusit@sec.or.th. The public hearing ends on 12 February 2026.