Bangkok--13 Jun--SEC
The SEC is seeking public comments on the proposed amendment to the rules governing disclosure of information in the Annual Registration Statement (Form 56-1), specifically in the part of employments and activities of directors and executives of listed companies.
The proposed amendment aims to enhance disclosure of information by requiring that directors and executives of listed companies report all of their current job positions and activities elsewhere, either in other businesses or organizations, as well as identify the primary employment (if any).
Currently, directors and executives are subject additional disclosure only in case of simultanous holding of similar positions at other listed companies. This requirement also applies to independent financial advisors who provide services to the parent company, subsidiaries or affiliates, as the case may be.
The amendment would give investors an access to more information about directors and executives of listed companies, which would show a bigger picture of their contribution, in terms of work time, productivity and otherwise, to their respective work, and whether their multiple employments are likely to raise competition or cooperation, benefits or harm, to their employer listed companies. This proposed extensive disclosure complies with the international guidelines for information disclosure.
The consultation paper is available at www.sec.or.th. Stakeholders and interested parties are welcome to submit comments through the website, or facsimile at 0-2263-6099 or email:
[email protected].