Bangkok--16 Apr--SEC
The SEC is seeking public comment on relaxeasing the a unit holding limit whereimposing any person or group of persons is allowed to hold not exceeding one-third proportion of authorized all units in a mutual fund (“One-Third Rule”). As there is no such One-Third Rule in other ASEAN countries, the proposed revision aims to facilitate Thai investment management companies by exempting the said Rule from unit holding ofThe easing proposal will apply for the unit holding of overseas mutual funds set up by Thai investment management companies under the ASEAN Collective Investment Schemes (ASEAN CIS), if offered to foreign aiming at abolishing restriction for Thai business firms in offering Thai ASEAN CIS to investors within other ASEAN countries where the One-Third Rule has not been applied. .
The consultation paper is available on www.sec.or.th. Stakeholders and interested parties are welcome to submit comments through the website, or facsimile number at 0-2263-6332 or email address at
[email protected] until April 17, 2014.