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SEC launches public comments from private fund operators to self-custody for its assets under management.



Monday 7 May 2018 | No. 42 / 2018


Bangkok, Monday 7 May 2018 - SEC is holding a public hearing on the revision of private funds regulations to allow private fund operators to provide self-custody service for its assets under management which could enhance flexibility in operation without an additional burden and offer proper protection of investors’ assets.

Nowadays, private fund operators are required to separate investors’ assets from the companies and there are measures to protect investors’ assets for other benefits. Private fund operators also appoint custodians which approved by SEC to protect investors’ assets.

However, SEC intends to revise the regulations by allowing private fund operators with custodian services to protect investors’ assets and strict supervision on asset separation. The private fund operators can self-custody for its assets under management without applying for the approval of being custodian. Such a move will improve flexibility in business operations and encourage business operators to set effective standards of custodian services.

Besides, to prevent private funds’ assets may be seized according to the legal process if private fund operators are in debt, SEC has proposed to revise the related regulations so that the investors of the private fund could be protected the assets if this situation happens.

SEC disseminates the public hearing document about this issue at SEC website: http://capital.sec.or.th/webapp/phs/upload/phs1525247850hearing_16_2561.pdf . Any related and interested parties are welcome to make comments on the website, facsimile: 02-033-9660 or e-mail: kunpatu@sec.or.th  or suttikun@sec.or.th until 1 June 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. 42 / 2018 Monday 7 May 2018
SEC launches public comments from private fund operators to self-custody for its assets under management.
Bangkok, Monday 7 May 2018 - SEC is holding a public hearing on the revision of private funds regulations to allow private fund operators to provide self-custody service for its assets under management which could enhance flexibility in operation without an additional burden and offer proper protection of investors’ assets.

Nowadays, private fund operators are required to separate investors’ assets from the companies and there are measures to protect investors’ assets for other benefits. Private fund operators also appoint custodians which approved by SEC to protect investors’ assets.

However, SEC intends to revise the regulations by allowing private fund operators with custodian services to protect investors’ assets and strict supervision on asset separation. The private fund operators can self-custody for its assets under management without applying for the approval of being custodian. Such a move will improve flexibility in business operations and encourage business operators to set effective standards of custodian services.

Besides, to prevent private funds’ assets may be seized according to the legal process if private fund operators are in debt, SEC has proposed to revise the related regulations so that the investors of the private fund could be protected the assets if this situation happens.

SEC disseminates the public hearing document about this issue at SEC website: http://capital.sec.or.th/webapp/phs/upload/phs1525247850hearing_16_2561.pdf . Any related and interested parties are welcome to make comments on the website, facsimile: 02-033-9660 or e-mail: kunpatu@sec.or.th  or suttikun@sec.or.th until 1 June 2018.

 

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