Bangkok, April 20, 2016 ? The SEC is seeking public comments on draft amendments to the rules concerning the categorization of salespersons and sales process of capital market products to promote efficiency and practicality for the industry.

On the salesperson side, the focus will be to enhance quality by recategorizing sales licenses according to levels of risk and complexity of the products. The requirements on qualifications of each type of licenses will also be adjusted accordingly to ensure that the salespersons will have proper knowledge of the products they offer. Additionally, to increase the number of salespersons sufficient for providing services to investors, the new rule will pave the way for experienced staff to seek sales licenses provided that they meet certain conditions to maintain the standard qualifications of salespersons. 

On the sales process side, the aim will be to prevent mis-selling or inappropriate selling of financial products to investors at the pre-sales, point of sales, as well as post-sales processes, by requiring intermediaries to improve effectiveness of internal communication with their salespersons and laying down effective monitoring system to ensure service quality of their salespersons. Moreover, the rule will introduce more convenient tools and channels for investors to obtain better understanding on products being offered to them in order to make well-informed investment decisions.
 
The consultation paper is available at www.sec.or.th. Stakeholders and interested parties are welcome to submit comments through the website, or facsimile at 0-22636484 or email: nichaya@sec.or.th.      

The public hearing ends on May 23, 2016.