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SEC public hearing on draft regulations defining the terms, “executive” and “business in the group” under the Digital Asset Businesses Law and the Securities Law



Thursday 2 April 2020 | No. 71 / 2020


Bangkok, 2 April 2020 – SEC is seeking public comments on the proposed regulations concerning the definitions of “executive” and “business in the group” under the Digital Asset Businesses Law to be in line with the definitions of the terms prescribed in the Securities Law. The proposed regulations aim to better clarify the terms, prevent unfair trading practices related to digital assets and securities, and enhance investors’ confidence.  

According to the proposed regulations, the terms, “executive” and “business in the group” would be defined in accordance with the legal presumption under the Chapter on Prevention of Unfair Digital Asset Trading Practices [of the Emergency Decree on Digital Asset Businesses B.E. 2561 (2018)] and in line with the definition of the terms prescribed in the Securities and Exchange Act B.E. 2535 (1992). The clarity of the terms would not only be useful for business operators and all parties involved but also boost investors’ confidence in trading activities related to digital assets and securities.    

The two related draft notifications are: (1) the Notification concerning Determination of the Definition of “Executive” in Compliance with the Emergency Decree on Digital Asset Businesses B.E. 2561 (2018), and (2) the Notification concerning Determination of the Characteristics of Business in the Group of Securities Issuer and Business in the Group of Digital Token Issuer. In this regard, the term, “business in the group of securities issuer” shall be defined in accordance with the Securities and Exchange Act B.E. 2535 (1992), and the term, “business in the group of digital token issuer” shall be defined in accordance with the Emergency Decree on Digital Asset Businesses B.E. 2561 (2018).  

The consultation paper is available at https://www.sec.or.th/TH/Pages/PB_Detail.aspx?SECID=617. Stakeholders and interested parties are welcome to send comments or suggestions to www.sec.or.th or e-mail: tanach@sec.or.th or ratchrin@sec.or.th. The public hearing ends on 2 May 2020.    

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Building Confidence in the Capital Market
NEWS
Securities and Exchange Commission
Corporate Communication and Investor Service Department
Tel. (66)2033-9502-5 E-mail: press@sec.or.th
No. 71 / 2020 Thursday 2 April 2020
SEC public hearing on draft regulations defining the terms, “executive” and “business in the group” under the Digital Asset Businesses Law and the Securities Law

Bangkok, 2 April 2020 – SEC is seeking public comments on the proposed regulations concerning the definitions of “executive” and “business in the group” under the Digital Asset Businesses Law to be in line with the definitions of the terms prescribed in the Securities Law. The proposed regulations aim to better clarify the terms, prevent unfair trading practices related to digital assets and securities, and enhance investors’ confidence.  

According to the proposed regulations, the terms, “executive” and “business in the group” would be defined in accordance with the legal presumption under the Chapter on Prevention of Unfair Digital Asset Trading Practices [of the Emergency Decree on Digital Asset Businesses B.E. 2561 (2018)] and in line with the definition of the terms prescribed in the Securities and Exchange Act B.E. 2535 (1992). The clarity of the terms would not only be useful for business operators and all parties involved but also boost investors’ confidence in trading activities related to digital assets and securities.    

The two related draft notifications are: (1) the Notification concerning Determination of the Definition of “Executive” in Compliance with the Emergency Decree on Digital Asset Businesses B.E. 2561 (2018), and (2) the Notification concerning Determination of the Characteristics of Business in the Group of Securities Issuer and Business in the Group of Digital Token Issuer. In this regard, the term, “business in the group of securities issuer” shall be defined in accordance with the Securities and Exchange Act B.E. 2535 (1992), and the term, “business in the group of digital token issuer” shall be defined in accordance with the Emergency Decree on Digital Asset Businesses B.E. 2561 (2018).  

The consultation paper is available at https://www.sec.or.th/TH/Pages/PB_Detail.aspx?SECID=617. Stakeholders and interested parties are welcome to send comments or suggestions to www.sec.or.th or e-mail: tanach@sec.or.th or ratchrin@sec.or.th. The public hearing ends on 2 May 2020.    

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