On June 10, Ms. Sasikarn Wattanachan, Deputy Government Spokesperson, announced that the Cabinet has approved the draft Securities and Exchange Act (Amendment No. ...) B.E. ..., which has been reviewed by the Council of State, and acknowledged the plan for developing subordinate legislation as proposed by the Ministry of Finance.
The draft amendment addresses six key areas of reform:
- Adding provisions to support electronic processes in the capital market
- Harmonizing regulations for securities and derivatives business operators according to international standards
- Establishing fee structures for business operations and professional services approved by the Securities and Exchange Commission (SEC)
- Adding civil penalty provisions for violations under the Securities and Exchange Act B.E. 2535
- Implementing witness protection measures during investigation and evidence collection
- Granting SEC officials investigative powers for certain types of violations
The Council of State Committee No. 3 determined that electronic securities provisions could be separated into a standalone law for earlier implementation without affecting the main draft. This separate Securities and Exchange Act (Electronic Securities) aims to support and promote the use of technology in capital market products and transactions.
The legislation will facilitate the adoption of financial technology in capital market operations, enhance convenience for the public, and improve the country's competitiveness in the digital society of the future.