Bangkok--12 Mar--SEC
The SEC is seeking public comment on proposed regulatory revisions to increase the numbers of intermediaries for the sale of investment units and investment advisors in the capital market. This is to allow existing business operators, apart from securities companies, financial institutions, or newly established companies as specified in the current ministerial regulation, to apply for the Type D license (limited brokerage, dealing or underwriting of investment units) and investment advisory service license.
The revisions would help investing public to have greater access to financial products and services in the capital market.The applicant must have the qualifications as specified by the Ministerial Regulations concerning undertaking of securities businessin the category that it applies for the license. In addition, the applicant must operatethe business in a way that promotes, supports, or is related to services of securities business. It must also have network accessible by the public at large while the operating business must not create any conflict of interest with the securities business applying for the license.
In addition, the existing and new coming Type D business operators wishing to conduct only brokerage business will be allowed to do so with minimum registered paid up capital requirement of 10 million baht. Furthermore, if their businesses are in the form of fund supermart, a lower rate of annual license fee will also be applied.
The consultation paper is available on the SEC website at www.sec.or.th. Stakeholders and interested public are welcome to submit comments through the website, facsimile number 0-2263-6026 or email:
[email protected] until March 21, 2013.