Cabinet approves 4 Capital Market Acts to empower SEC and TISA

Prachachat•Economy•1d ago

Reader Briefing

The Thai Cabinet has approved four draft Capital Market Supervision Acts to modernize regulations and allow the SEC to conduct joint investigations with police.

•The Cabinet approved four draft Capital Market Supervision Acts proposed by the Ministry of Finance.
•The SEC will be granted authority to act as a joint inquiry officer with police for high-impact cases.
•The legislation aims to modernize the capital market for the digital era and prepare for the TISA system.
•The laws are expected to be enforced by the year 2027.

Overview

•The Cabinet approved four draft Capital Market Supervision Acts proposed by the Ministry of Finance to improve laws to match current financial system developments.
•Ekniti Nitithanpraphas stated the acts aim to modernize laws to international standards, improve governance, reduce business burdens, and protect Thai investors.
•Pronong Busaratrakul noted that granting the SEC authority to jointly investigate with police in high-impact cases will reduce the legal process time from the typical 2 years and 3-6 months.
•The SEC provides expertise in financial statements and accounting, while police provide expertise in deep investigation.
•The draft acts will enhance supervision of Gatekeepers, including accounting firms and independent valuers, both domestically and internationally.
•The four draft acts will proceed to the Office of the Council of State, the government whip, and Parliament for the first through third readings.
•Winich Wisetsuwannaphum stated these acts pave the way for TISA, a public savings account system.
•Winich Wisetsuwannaphum expects the laws to be enforced by the year 2027.

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Key Quotes

Ekniti Nitithanpraphas

"The objective of these 4 draft Acts is to be modern, consistent with electronic transactions and the current digital world."

วัตถุประสงค์ของร่างพระราชบัญญัติทั้ง 4 ฉบับนี้ คือต้องการความทันสมัย สอดคล้องกับธุรกรรมอิเล็กทรอนิกส์และสอดคล้องโลกดิจิทัลปัจจุบัน

Pronong Busaratrakul

"This draft has been in the process for several years and is something the capital market has been waiting for."

ร่างนี้อยู่ในกระบวนการหลายปีแล้ว และเป็นสิ่งที่ตลาดทุนรอคอย

Key Entities

Person

Ekniti Nitithanpraphas(เอกนิติ นิติทัณฑ์ประภาศ)

Deputy Prime Minister and Minister of Finance.

Pronong Busaratrakul(พรอนงค์ บุษราตระกูล)

Secretary-General of the Securities and Exchange Commission (SEC).

Winich Wisetsuwannaphum(วินิจ วิเศษสุวรรณภูมิ)

Director of the Fiscal Policy Office and spokesperson for the Ministry of Finance.

Organization

Ministry of Finance(กระทรวงการคลัง)ℹ️

The government ministry that proposed the four draft Capital Market Supervision Acts.

Securities and Exchange Commission(สำนักงานคณะกรรมการกำกับหลักทรัพย์และตลาดหลักทรัพย์)ℹ️

The agency that will be empowered to jointly investigate high-impact cases with police.

Cabinet(คณะรัฐมนตรี)

The body that passed the resolution approving the four draft Capital Market Supervision Acts.

Office of the Council of State(สำนักงานคณะกรรมการกฤษฎีกา)ℹ️

The office where the draft acts will be sent before moving to the government whip and Parliament.

Fiscal Policy Office(สำนักงานเศรษฐกิจการคลัง)

The organization led by Winich Wisetsuwannaphum.

Law

4 Capital Market Supervision Acts(พ.ร.บ.กำกับตลาดทุน 4 ฉบับ)

Four draft laws approved by the Cabinet to modernize capital market supervision.

Electronic Securities Act(พ.ร.บ.หลักทรัพย์อิเล็กทรอนิกส์)

A law that has already entered Parliament and will be complemented by the four new draft acts.

Policy

TISA

A public savings account system being developed by the Ministry of Finance and the SEC.