SEC Proposes Fast Track Scheme For Public Offerings

In an effort to streamline the public offering process for listed companies with good corporate governance records, the SEC has proposed a set of new rules that will be┬ásubject to public comment until 19 May. Under the new rules, those …

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ASEAN Capital Market Integration Moves A Step Forward

On 1 October the ASEAN Capital Markets Forum announced that the securities regulators for Thailand, Malaysia and Singapore have signed a Memorandum of Understanding to establish a framework for cross-border offerings of collective investment schemes (“CIS”) for implementation in the …

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Securities Businesses No Longer Off Limits to Foreigners Under Foreign Business Act

Under Thailand's Foreign Business Act (FBA), foreigners are generally not permitted to own service businesses in Thailand without first obtaining a foreign business license or qualifying under another exemption.   On 18 March 2013, however, the Ministry of Commerce issued regulations …

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New SEC Form for Employee Stock Offerings by Foreign Parents

Many foreign parent companies of Thai subsidiaries offer securities of the parent company (e.g., ESOPs, ESPPs, etc.) to the  employees of its subsidiaries in Thailand. Often employers are not aware that their foreign employee stock plans are subject to regulation by the …

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Foreign Employee Stock Plans – New Article

It is increasingly popular for companies to offer their own securities to existing employees as part of their incentive programs….Foreign employee stock plans of this nature are subject to regulation by the Securities and Exchange Commission of Thailand (SEC). Under …

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Thai SEC Announces Easing of Private Equity Restrictions

To provide SMEs with more access to funding, the Thai Securities and Exchange Commission (SEC) issued a news release saying that private equity is a suitable source of funding for "businesses with high growth potential".   The SEC's news release says: To …

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20-Year Jail Term and Fine Imposed Against Former Chairman and President of Nippon Pack (Thailand) PLC

Wichai Chaisathaporn, the former chairman and president of Nippon Pack (Thailand) PLC, was found guilty by the Criminal Court of misappropriating company assets and falsifying documents and accounting records in violation of Sections 281/2, 307, 308, 311, 312 and 313 …

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SEC introduces “Accredited Investor” regime

The SEC Board and the Capital Market Supervisory Board have introduced the concept of "accredited investors" in order to allow enterprises seeking to raise funds with more flexibility by not having to be bound to the same disclosure and reporting …

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Investment Rules in Overseas Listed Derivatives Relaxed

Starting on 1 July, individual investors from Thailand will be allowed to freely invest in overseas-listed derivatives. As reported in the Nation, SEC Secretary General Vorapol Socatiyanurak stated that the Capital Market Supervisory Board has amended the investment rule by lifting …

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SEC proposes regulations for Real Estate Investment Trusts

The SEC has prepared draft regulations to allow companies with expertise in real estate investment and management to seek SEC approval to become a Real Estate Investment Trust (REIT) manager and issue and allocate units in the REIT. According to …

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SEC issues new rules to clarify risks of Bills of Exchange

Bills of Exchange (B/E) have become a frequent source of funds by financial institutions in Thailand.   Financial institutions issuing B/Es often structure them with terms similar to those used with bank deposits and offer comparable returns.  The SEC has been …

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SEC Orders Special Audit of Tongkah Harbour Plc (THL)

The SEC has ordered Tongkah Harbour Plc. (THL) to arrange a special audit with regard to the company's internal controls, appropriateness of related party transactions and asset management. The audit is in response to the SEC's concerns regarding: (1) the …

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Scope of SEC Act to cover outsiders

The Securities and Exchange Commission is holding public hearings until Sunday, 25 September, on a proposed amendment to the SEC Act. The amendment will broaden the scope of the SEC Act's coverage to include outsiders who use inside information for …

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