On 22 September 2022, the Capital Market Supervisory Board Meeting No. 10/2565 passed a resolution approving the proposed amendments to the regulations related to establishment and relocation of offices or branches of business operators in accordance with the Regulatory Guillotine to increase flexibility and streamline processes and operating burdens on the business sector.

Essentially, the proposed amendments would: (1) apply the same auto approval principles for the establishment of local branches to the applications for establishment of foreign branches as well, (2) remove the mandatory scope of operation of foreign representative branches of Thai business operators and apply the rules of the regulators of such foreign representative branches instead, (3) allow more flexibility on branch managers, and (4) enhance efficiency of investor protection by requiring business operators to ensure office branches appropriately accessible to investors, and inform clients sufficiently in advance before closing or moving office branches.  

The consultation paper is available at https://www.sec.or.th/TH/Pages/PB_Detail.aspx?SECID=890. Stakeholders and interested parties are welcome to submit comments and suggestions through the website or email: supitcha@sec.or.th or pongpim@sec.or.th. The public hearing ends on 23 April 2023.

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Remark:
* Regulatory Guillotine is the regulatory review of the existing laws and regulations. The reviewed laws and regulations that are unnecessary or do not keep pace with situations or remain obstacles to livelihoods or engagement in occupations will be abolished or revised to lessen burdens on people. By doing so, methods used must be done with speed, transparency and low costs with participation of all related parties.