Fintechs to be allowed three services
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The Securities and Exchange Commission plans to allow financial tech firms to try out three capital services in the sandbox in the first half of next year.
The three services are private funds, investment advisory services, and clearing and settlement services.
The SEC can grant permission for those services without amending its law, Tipsuda Thavaramara, deputy secretary-general of the SEC, said Wednesday.
The objective of the sandbox scheme is to encourage the development of innovative financial services that have never been used in Thailand, such as Robo Advisor to give advice to investors.
The SEC will take about 12-18months in considering to give licenses to those fintechs.
