Cabinet approves 4 capital market law amendments

MGR Online•Economy•1d ago

Reader Briefing

The Cabinet has approved four draft capital market laws proposed by the Ministry of Finance to modernize regulations and enhance the enforcement powers of the SEC.

•The Cabinet approved four draft laws covering the Securities and Exchange Act, Derivatives Act, Trust for Transactions in Capital Market Act, and Digital Asset Businesses Emergency Decree.
•The amendments aim to promote digital capital markets, improve supervision of securities and derivatives businesses, and enhance law enforcement efficiency.
•The SEC will gain joint investigation powers with inquiry officials for high-impact cases.

Overview

•The Cabinet approved four draft capital market laws submitted by the Ministry of Finance.
•The draft laws have already passed the review of the Office of the Council of State.
•The Ministry of Finance proposed these amendments to adapt laws to current capital market and financial system developments.
•The amendments include supporting electronic processes and increasing oversight of significant system providers (Digital Infrastructure).
•The SEC will be granted authority to conduct joint investigations in high-impact cases that severely affect capital market confidence or the national economy.
•Penalties will be restructured to include administrative fines in accordance with the Constitution 2017 and the Act on Administrative Fines 2022.
•Pornanong Busaratrakul stated the laws aim for modernization, transparency, and long-term competitiveness of the Thai capital market.
•The draft laws must proceed through the parliamentary consideration process before being published in the Royal Gazette.

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Key Quotes

Pornanong Busaratrakul

"These four draft capital market laws are important mechanisms that help elevate the structure of the Thai capital market to move forward concretely."

ร่างกฎหมายตลาดทุนทั้ง 4 ฉบับ เป็นกลไกสำคัญที่ช่วยยกระดับโครงสร้างตลาดทุนไทยเดินหน้าสู่ขั้นตอนต่อไปได้อย่างเป็นรูปธรรม

Key Entities

Organization

Cabinet(คณะรัฐมนตรี)

The government body that approved the four draft capital market laws.

Securities and Exchange Commission(สำนักงานคณะกรรมการกำกับหลักทรัพย์และตลาดหลักทรัพย์)ℹ️

The regulatory body whose enforcement powers are being increased through the approved draft laws.

SEC(ก.ล.ต.)

The shortened name for the Securities and Exchange Commission.

Office of the Council of State(สำนักงานคณะกรรมการกฤษฎีกา)ℹ️

The office that reviewed the four draft laws before they were submitted to the Cabinet.

Ministry of Finance(กระทรวงการคลัง)ℹ️

The ministry that proposed the four draft capital market laws to the Cabinet.

Person

Pornanong Busaratrakul(พรอนงค์ บุษราตระกูล)

The Secretary-General of the SEC.

Ekniti Nitithanpraphas(เอกนิติ นิติทัณฑ์ประภาศ)

The Deputy Prime Minister and Minister of Finance.

Law

Securities and Exchange Act(พระราชบัญญัติหลักทรัพย์และตลาดหลักทรัพย์)ℹ️

One of the four laws being amended to improve capital market supervision and digital infrastructure.

Derivatives Act(พระราชบัญญัติสัญญาซื้อขายล่วงหน้า)

One of the four laws being amended to support financial product and transaction developments.

Trust for Transactions in Capital Market Act(พระราชบัญญัติทรัสต์เพื่อธุรกรรมในตลาดทุน)

One of the four laws being amended to support trust-based transactions and electronic processes.

Digital Asset Businesses Emergency Decree 2018(พระราชกำหนดการประกอบธุรกิจสินทรัพย์ดิจิทัล พ.ศ. 2561)

The decree being amended to adapt digital asset supervision to rapidly changing business models.

Constitution 2017(รัฐธรรมนูญ พ.ศ. 2560)

The constitution referenced regarding the principles of administrative fines.

Act on Administrative Fines 2022(พระราชบัญญัติว่าด้วยการปรับเป็นพินัย พ.ศ. 2565)

The law referenced regarding the alignment of administrative fine measures.