Bangkok, 28 December 2020 – The Office of Securities and Exchange Commission (SEC) proposes an amendment to the Securities and Exchange Act B.E. 2535 to add a provision that would provide SEC Board the authority to prescribe rules governing the operation of associations related to securities business and a provision that would give the financial flexibility to the association so that it would be able to generate income to support its own operation and engage in activities that promote the securities business which is the main reason of its existence.
The provisions proposed to be added are as follows:
(1)
Provision that will require the association to operate its affairs in
accordance with the rules prescribed by SEC Board. If, however, there is any
matter that SEC Board has not specifically specified, then the
provisions under the Trade Association Act will be applied mutatis
mutandis;
(2)
Provision that will allow the association to invest in certain types of securities,
provided that, such investment is made in accordance with the rules issued by SEC Board;
and
(3)
Provision regarding criminal penalties that can be imposed on any associations or
its directors that do not comply with the rules prescribed under (1) or (2)
above.
Details of the proposed amendment are
available at https://www.sec.or.th/TH/Pages/PB_Detail.aspx?SECID=684. Stakeholders and
interested parties are welcome to send comments or suggestions by 26 January
2021 via the website or e-mail to kris@sec.or.th or nichap@sec.or.th.
------------------------------