Moves to lift securities companies' quality

 After the discussion between the Securities and Exchange Commission and the Association of Securities Companies (Asco), the association agreed to activate the SEC-approved guidelines which demand each brokerage house's research team to cover at least 30 stocks and one analyst must not work on more than 15 stocks on average. The researches must also be updated at least four times a year. The operations would also come under a surveillance system.
 SEC Secretary-General Vorapol Socatiyanurak said that both sides also voiced concern over lack of researches on medium and small-market cap stocks, though many are showing impressive growth stories and deserve to be better known among investors.
 The association was of the view that listed companies could help in this regard, through their investor relations teams and top executives.
 Meanwhile, securities houses' backoffice personnel will also enrol into training programmes, for updated knowledge on new products and rules. 
 This is one of the measures to strengthen the securities industry as a whole. In August, Thailand will allow cross-investment for stocks in Thailand, Singapore and Malaysia under the Asean Link scheme. 
 "The association has tried to upgrade services in all fronts, on realisation that our operations must meet the international standards," said Asco chairperson Pattera Dilokrungthirapop. "Today, our focus is on the research quality and personnel. On some investors' concern that securities companies put their proprietary accounts before customers' accounts, we can assure them that we are conducting business ethically and under the supervision by the SEC. This is to make Thailand a truly effective capital market."