Bangkok, 6 August 2019 – The management of two agencies discussed on the preparation for signing a Memorandum of Understanding (MOU) to push fund mobilization in the region. This MOU has been built on a MOU on cooperation signed in 2014 and the two regulators also expressed the goodwill to raise cooperation in bond market development and mutual fund supervision as well as through capacity building programs.
SEC Secretary-General Ruenvadee Suwanmongkol, along with SEC Deputy
Secretary-General Sirivipa
Supantanet, and management team met with H.E.
Mr. Sou Socheat, Director General of the Securities and Exchange Commission of
Cambodia (SECC), and executives in Phnom Penh, Cambodia, on August 5, 2019.
On this occasion, both regulators exchanged views on
cooperation and assistance that the SECC and SEC Thailand will provide to each
other with regard to cross-border equity offering and depositary receipt (DR),
which can make a strong contribution to the successful implementation.
Enhancing cooperation based on MoU signed in 2014, both the SECC and SEC
Thailand agreed to have an additional Memorandum of Understanding (MOU)
concerning the cross-border equity offering and issuance of DR which will allow
issuers from both Cambodia and Thailand to make an offer or to list their
equity securities outside the issuer’s home jurisdiction. The cross-border
equity offering will help expand the issuers’ businesses, increase their
liquidity derived from trading in more than one exchange and access to larger
pool of potential investors.
This MOU will cover the establishment and functions of
the working team between the SECC and SEC Thailand to work on the process of
implementing the cross-border equity offering and the issuance of DR and will
also cover the issuing guidelines to provide guidance for issuers who wish to
offer securities, either cross-border equity offering or DR, in Thailand. In
the course of the discussion, the representative from World Bank (Thailand)
also expresses the interest in supporting the cooperation between the SECC and
SEC Thailand to promote cross-border capital market activities between Cambodia
and Thailand. This MOU is expected to be signed in Thailand in late September,
which will serve as another important milestone reflecting the strong relationship
between the SECC and SEC Thailand.
During this meeting, the SECC and SEC Thailand also agreed to enhance
the strong relationship through capacity building programs in the areas of bond
market development, mutual fund and provident fund supervision as well as a
preparation for self-assessment to become an ordinary IOSCO member. The
programs could be conducted in various forms such as seminars, study visits, secondment
(recruiting Cambodian personnel to work at the SEC) or on-the-job training. In addition, the two regulators
affirmed their intention to continue working together for further fruitful
collaboration and strengthen the relationship between them.
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