SEC revises rules on inadequate net capital
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The Capital Market Supervisory Board has approved the revision of rules applicable to securities companies facing financial difficulty and unable to maintain adequate net capital, Securities and Exchange Commission (SEC) secretary-general Vorapol Socatiya
The revised rules include the rectification period, the restriction of business operations during the rectification period, and undertakings in case of failure to rectify.
The new rules will provide a more uptodate and practical framework and are aimed at mitigating undesirable impacts on securities firms’ clients and counterparties, as well as on the capitalmarket system, he said.
The revised regulations will become effective by the end of October.
The Nation
