Bangkok, 18 May 2018 – SEC is now seeking comments on the revision of regulations regarding outsourcing, as well as investment management, to define additional mechanisms for a more effective supervision on outsourcing, and for the investors to receive protection of the same level of international standard.
In the
past, SEC had been approving securities business operators to assign
outsourcing in other operations related to businesses for the effectiveness and
flexibility of the operation. Business providers are still responsible for any
actions operated by the outsourced company while the outsourced company must
also have the readiness in both personnel and the operating system, and such
operation must be under appropriate supervision.
SEC is
revising the regulations regarding supervision of outsourced companies, no
matter how many outsourced companies are involved in an operation, for them to
be properly supervised by the business providers and for a more effective
supervision system to make the regulatory system more efficient and comply with
international standard, such as, the right to access to the information
regarding changes of the outsourced companies which might affect the business,
or the provisions stipulating that the business providers must have necessary
resources and adequate personnel with expertise to effectively supervise and
administrate the risks of outsourced operation, as well as in case of
outsourcing operation in investment management and investment risk management. The
business provider must have the protective measures against conflicts of
interests, for the increased protection for the investors.
SEC has
published relevant documents regarding public hearing at the SEC website: www.sec.or.th/hearing . Any interested parties can submit their
comments and concerns via the website, via fax 0-2033-9660, or via e-mail teerawat@sec.or.th or surasak@sec.or.th until 5 June 2018.
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