SEC seeks opinions on holding company financial statements
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The Securities and Exchange Commission (SEC) is seeking public opinion on proposed regulatory revisions governing the preparation of financial statements of a holding company applying to offer newly issued securities for sale.
The proposal aims to accommodate a new holding company established as a result of shareholding and business restructuring. The newly established holding company will, therefore, be unable to prepare the most recent annual and quarterly financial statements as required under the existing regulations.
To address this issue, the SEC is considering relaxing securities offering rules to allow the newly established holding company to use a pro forma annual consolidated financial statement prepared as if it had been founded at the beginning of the most recent accounting period and the latest quarterly financial statement. These financial statements must conform to the accounting standards and be assured by an SEC-approved auditor.
The consultation paper is available on www.sec.or.th. Stakeholders and interested parties from the public have until April 4 to submit comments on the website or via phone number (02) 263 6112, or by e-mail to [email protected].
