Monday, September 20, 2021


Securities and Exchange Act being amended

The Securities and Exchange Commission (SEC) is amending the Securities and Exchange Act to allow SEC officials to become investigating officers in legal cases involving the Securities and Exchange Act and Future Exchange Act, said SEC secretary-general Ruenvadee Suwanmongkol.



“Currently, SEC officials have no investigating authority in such cases and can only gather evidence and witnesses for the Department of Special Investigation (DSI) in cases were damages are to the tune of over Bt100 million, or for the Economic Crime Suppression Division in cases of less than Bt100 million in damages,” she said.
“We expect the amendment to the Securities and Exchange Act to be completed by early 2021, after which the SEC board will be asked to approve the Act before the end of the first quarter, and then present it to the Finance Ministry to seek Cabinet approval,” Ruenvadee said.
She also said the SEC has the authority to manage and control capital markets but cannot investigate any wrongdoing involving securities exchange and future exchange. However, the new amendment should allow the SEC to investigate and file a case against violators of its regulations, which should help streamline the legal process.
“The SEC has also recently signed a MoU with the Office of General Attorney’s Civil Case Division to promote cooperation in exchanging knowledge and understanding in legal prosecutions involving wrongdoing in capital markets,” she added.
Since 2016, the SEC has recorded 44 civil cases of capital market offences, with 244 offenders. Thirty of these cases have already seen prosecution, with total punishment of over Bt1.27 billion being meted out, while 14 cases are still under investigation.

Published : September 24, 2020