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SEC proposes rules for regulated entities that implement FinTech to provide investment services as an opportunity for people to access to capital markets



Monday 2 April 2018 | No. 34 / 2018


Bangkok, Monday 2 April 2018 – SEC is conducting a public hearing on the regulations of regulated entities that implement technologies to analyze securities, provide advice and make investment decision for investors, aiming to support both existing operators and new ones to offer new services and increase channels for investors to access and receive standardized service.

SEC has opened for public comments to revise the regulations on supervision of fintech as there are some business operators applying fintech to improve their service efficiency for investors. For example, algorithm or computer coding has been used in the process of investment analysis, advice, and investment decision-making. Therefore, it could lead to new services offering and help investors to have alternatives by using the capital market to accumulate wealth in the long run.

SEC studied regulations in other countries to find proper guidelines for supervision, which focus on standardized services and putting investors first, while discussed with the business operators for comments and suggestion on this issue. The proposed guidelines and this public hearing will be presented to business operators in the capital markets who plan to apply fintech must comply as follows:

(1)    Set a policy on fintech application at board or executives level;

(2)    Have personnel understand the basic principles of technology usage;

(3)    Allow fund managers or securities analysts to participate in fintech development/application processes;

(4)    Have a control and inspection system for algorithm processing;

(5)    Have a data protection and governance;

(6)    Disclose the scope and limitations of services to the investors.

SEC publishes the public hearing document on this issue at SEC website: www.sec.or.th/hearing 

Any related and interested parties are welcome to make comments on the website or facsimile: 0-2263-6456 or e-mail: phakhaku@sec.or.th or kunpatu@sec.or.th until 27 April 2018.

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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. 34 / 2018 Monday 2 April 2018
SEC proposes rules for regulated entities that implement FinTech to provide investment services as an opportunity for people to access to capital markets
Bangkok, Monday 2 April 2018 – SEC is conducting a public hearing on the regulations of regulated entities that implement technologies to analyze securities, provide advice and make investment decision for investors, aiming to support both existing operators and new ones to offer new services and increase channels for investors to access and receive standardized service.

SEC has opened for public comments to revise the regulations on supervision of fintech as there are some business operators applying fintech to improve their service efficiency for investors. For example, algorithm or computer coding has been used in the process of investment analysis, advice, and investment decision-making. Therefore, it could lead to new services offering and help investors to have alternatives by using the capital market to accumulate wealth in the long run.

SEC studied regulations in other countries to find proper guidelines for supervision, which focus on standardized services and putting investors first, while discussed with the business operators for comments and suggestion on this issue. The proposed guidelines and this public hearing will be presented to business operators in the capital markets who plan to apply fintech must comply as follows:

(1)    Set a policy on fintech application at board or executives level;

(2)    Have personnel understand the basic principles of technology usage;

(3)    Allow fund managers or securities analysts to participate in fintech development/application processes;

(4)    Have a control and inspection system for algorithm processing;

(5)    Have a data protection and governance;

(6)    Disclose the scope and limitations of services to the investors.

SEC publishes the public hearing document on this issue at SEC website: www.sec.or.th/hearing 

Any related and interested parties are welcome to make comments on the website or facsimile: 0-2263-6456 or e-mail: phakhaku@sec.or.th or kunpatu@sec.or.th until 27 April 2018.

_____________________________