SEC supports "fund" supermarket

In a statement released today, the SEC is seeking revisions in the Finance Ministry's ministerial regulations, to allow companies with Bt10 million paid-up capital to apply for the Type D brokering license. If they are selling at least 3 types of mutual funds from at least 10 asset management companies, the companies will enjoy a lower annual fee.

SEC Secretary-General Vorapol Socatiyanurak said that the revisions will help promote investment unit brokerage. The more service providers, the greater access to a variety of financial services and investment choices will be available to serve investors’ risk appetite. Also, the investors will have wider opportunities to obtain a wide-range investment advice from independent business operators.

“Increased investor access to the capital market will help boost public awareness in the importance of personal finance. It will contribute to a rising numbers of investors, of course, not only in investment units but in other financial products as well. For business operators, it is such an excellent opportunity to utilise all channels to the fullest extent possible for customer base expansion in preparation for more intense competition. At the end, Thai capital market will be more developed both in horizontal and vertical dimensions,” said Vorapol.