Bangkok, May 28, 2015 ? The SEC revised regulations for more flexibility to promote cross-border offerings of debt securities and collective investment schemes (CIS). The revision aims to increase opportunity and alternatives for fund raisers and investors as well as enhance the Thai capital market readiness for international linkages. The revised regulations will become effective by the third quarter of this year.

The Capital Market Supervisory Board approved the revision of regulations concerning cross-border offerings of debt securities and CIS in line with ASEAN Capital Markets Forum (ACMF)?s cooperative framework to enhance the Thai market?s attractiveness and competitive edge. On debt securities, foreign issuers will be allowed to issue sukuks in Thailand. Moreover, appointment of single bond holder representative will be permitted if home jurisdiction is a signatory of ACMF MoU, currently comprising Malaysia, Singapore and Thailand.  

Thai issuers planning to offer debt securities in various jurisdictions can submit the filing under ASEAN Disclosure Standards. In case of private placement to institutional and high net worth investors, they can submit single filing form in English version.

In addition, foreign issuers issuing baht bonds must seek approval from the SEC in accordance with the specified criteria, such as qualifications of foreign issuers, requirements on financial advisors and intermediaries, etc.

For cross-border offering of CIS under ASEAN CIS framework, the SEC may grant a waiver of compliance with Thai regulations for Thai asset management companies? offshore offering to promote the efficiency of fund establishment. The waiver may be granted if there is no effect on Thai investors and without conflict with host jurisdiction regulations on investor protection, such as determination of minimum subscription over 50,000 baht for offshore offering.