Bangkok, 31 October 2019 – The SEC is seeking public comments on the proposed use of single form to standardize both entry forms and ongoing forms for securities transactions across the industry. This initiative aims to facilitate investors in filing information with intermediaries, reduce the burden of repetitive filing on various forms, and help intermediaries to manage customer profiles more efficiently.
Currently, investors are usually required to provide a lot of information each time they request services from an intermediary and must repeat the process via different forms when using services of different intermediaries. Such repetitive filing causes inconvenience and higher cost of accessing different capital market services from different intermediaries. This current practice may also affect the opportunity for investors to select products and services suitable for their personal needs.
The SEC is therefore proposing the use of single form to reduce the burdens on investors and intermediaries. Drafting single form is based on the principle of gathering necessary and sufficient information to ensure provision of appropriate services in compliance with the law, and to provide ease of filing for investors. This single form proposal would facilitate standardized filing of customer profiles and increase investors’ convenience.
Based on the previous stakeholders consultation on the governing principles, the SEC and relevant agencies have jointly drafted single form templates as follows: (1) entry form (e.g., an application form) for gathering fundamental information before an intermediary can provide services to a client, and (2) ongoing form for investment transactions such as subscription, redemption and switching.
For further details of the public hearing, please visit https://www.sec.or.th/TH/Pages/PB_Detail.aspx?SECID=582. To ensure appropriate guidelines and optimum benefits for all concerned, stakeholders and interested parties are welcome to submit comments and recommendations via the website or facsimile: 0-2033-9660 or email: piyatit@sec.or.th and witchulada@sec.or.th. For paper comments, please send them to: The Intermediaries Policy Department, the Securities and Exchange Commission, Thailand 333/3 Vibhavadi-Rangsit Road, Chomphon, Chatuchak Bangkok 10900, Thailand.
The public hearing ends on 27 November 2019.
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