Pursuant to the existing regulations on approval for capital market business personnel, if any person who has obtained an approval from SEC but has not performed duties under any business operator wishes to maintain the approval status, such person must take a refresher course and pay the renewal fee every two-calendar year period at the amount of 1,000 baht in case of investment consultant, investment analyst and investment planner, and at the amount of 10,000 baht in case of a fund manager.   

SEC has therefore proposed amendments to the regulations on supervision of capital market business personnel to reduce costs for the aforesaid personnel, enhance oversight efficiency and facilitate fast and convenient processes. The proposed amendments would be useful for both business operators and capital market business personnel, covering the following approaches: (1) cancellation of the requirement for a renewal application for approval as capital market business personnel in the case where an approved person has not performed duties under any business operator to reduce the burdens of renewal submission and payment of renewal fee, and (2) requirement for the business operator to submit an application for approval as capital market business personnel for the applicant and notify the commencement and termination of duty performance, including renewal, of the approved person. In this regard, the business operator must consider the qualifications of the applicant in line with the governing regulations prior to submitting the application via SEC’s auto approval system.

In addition, SEC would extend the renewal period for the capital market business personnel to be from 1 September to the last business day of the year, as opposed to the current renewal period from 1 September to 15 December of the year. This is to allow business operators more time to submit an application for renewal of the personnel approval until the day closest to the expiration date of approval.

The consultation paper is available at https://www.sec.or.th/TH/Pages/PB_Detail.aspx?SECID=641. Stakeholders and interested parties are welcome to give comments and suggestions via the website or email: tasanawa@sec.or.th, melina@sec.or.th, peerawat@sec.or.th or apichayas@sec.or.th. The public hearing ends on 14 September 2020.   

__________________________