Bangkok, 24 February 2020 – SEC is seeking public comments on the proposed regulations that would allow, for the first time, the use of a standard single form to open trading accounts with different intermediaries, and consequently make it more convenient for investors to invest in capital market products.
Currently,
a large number of intermediaries provide investment products and services. They
each tend to require investors to fill in a lot of information via various,
different forms to open an investment account. In this regard, investors are
usually requested to give the same information repeatedly when open a new
account with different intermediaries. Such redundancy causes inconvenience and
a burden to investors, which could develop into an obstacle for accessing
investment services and products in the capital market.
SEC
therefore is proposing the regulations on the use of a single form for opening
an investment account cross the industry, to be applicable for all types of
investment products.* The draft regulations take into account the comments and
suggestions gathered from the previous public hearing during 28 October – 27
November 2019 whereby most participants agreed with the SEC’s guidelines. In
laying out the single form for capital market transactions, SEC also consulted relevant
regulators and considered comments of the business sectors and the public.
The
consultation paper is available at www.sec.or.th/TH/Pages/PB_Detail.aspx?SECID=610. Stakeholders and interested parties are welcome to
send comments or suggestions to www.sec.or.th or e-mail: insec@sec.or.th. The
public hearing ends on 23 March 2020.
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* Excluding the
opening of trading accounts for the purpose of securities subscription and
investment in unit-link life insurance.