The regulatory revision on the information disclosure and an issuer’ auditor takes into account the readiness of the capital markets without creating too much burden for stakeholders. Significant issues required to be disclosed are as follows:

 (1) To additionally disclose directors and executives’ compensation policy, method of determining the compensation packages, structures of each compensation remuneration type, and accrued expense of the latest year’s compensation;

 (2) To clearly disclose the use of proceeds in each determined topic and approximately specify the amount and period of the usage;

(3) To additionally disclose information regarding relations between executives and a labor union;

(4) To disclose stock trading data and historical prices e.g. stock prices and trading value of each year for the last three years, and trading suspension records;

(5) To prepare financial statements for the past three years and the latest quarter in accordance with  the determined standard, and to disclose  related-party transactions for past three years.

Rule No. (1) – (4) will come into force for the filing from 1 April 2019 onward. Rule No. (5) will be in effect for the filing with annual financial statements ending 31 December 2023 onward.

In addition, SEC repealed a rule that requires an auditor in foreign countries to be from the same network of accounting firm used in Thailand ,  in effect from 1 November 2018.

SEC Deputy Secretary-General Prakid Punyashthiti said: “the regulatory revision of the information disclosure in the filing form will enable investors to access information  regarding the executives’ compensation , financial statements,  related-party transactions and  use of proceeds, and will assist the evaluation of  capabilities of securities issuers to be more effective . These revisions are in line with the IOSCO standards, which helps to further credibility of the Thai capital market and to build up confidence for both domestic and foreign investors.”

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