Bangkok--13 Feb--SEC
The SEC is seeking public comment on draft amendments to the rules governing the proportion of investment unit holdings in mutual funds for general investors (retail funds), excluding equity funds. The amendments aim to ensure proper unit allocation and prevent any undue benefit by any particular individual.
For example, the revisions require any person or group of persons to hold not more than 1/3 of total investment units sold. In case any person or group of persons hold an amount exceeding the limit is barred from making additional investments, the asset management company is subject to disclose and update information and correct the proportion ina certain period. It is prohibited from distributing dividends and counting votes inthe excess portion.
The draft regulations and consultation paper are available on the SEC website at www.sec.or.th. Stakeholders and interested parties from the public are welcome to submit comments through the website, through the phone number 0-2263-6071, or email to
[email protected] until February 18, 2013.