Bangkok, 3 April 2020 – SEC has granted a deadline extension for the submission and publication of the annual financial statements of securities companies and derivatives business operators who are affected by the spread of the novel Coronavirus disease (COVID-19). This is to facilitate the cases where it is necessary to postpone the general shareholders’ meeting and subsequently the approval of such financial statements.
SEC Secretary-General Ruenvadee
Suwanmongkol said that the ongoing spread of COVID-19 is affecting some securities
companies and derivatives business operators to the point that it is necessary
to postpone their general shareholders’ meeting. As a result, the approval and
submission of the annual financial statements to SEC cannot be done within the deadline specified by law, and consequently the publication
of the financial statements on newspaper and at open space of the premises of
the business operators must be postponed as well.
To mitigate the impacts of the situation,
SEC has extended the deadline for the submission and publication of the annual
financial statements for the period ending 31 December 2019 to
30 April 2020 by allowing securities companies and derivatives business
operators to do so within 21 days from the date of receiving the approval for
such financial statements from the general shareholders’ meeting. In any case, the
total extension must not be later than 30
September 2020 and the board of directors has already concluded that the company
is truly affected by the COVID-19 situation.
While the general shareholders’
meeting cannot be held to approve the annual financial statements, the business
operators are instructed to disclose the audited financial statements together
with the auditor’s opinion within four months as of the end of the financial
year via their website so that investors will be able to access information and
monitor the operation of the business operators before making a decision to use
their services.
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