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SEC warns the private sector to beware of misuse of SEC response letters



Thursday 5 October 2023 | No. 177 / 2023


Bangkok, 5 October 2023 – The Securities and Exchange Commission (SEC), as the capital market regulator under applicable laws, when approached by the private sector entities on legal matters and regulations, both in the areas of securities and digital assets, will provide written responses to their inquiries based on the facts received from the inquirers at the time. The objective is to ensure that the private sector gains knowledge, understanding, and the ability to comply with the governing laws and regulations properly. Such responses are exclusively intended for the specific private sector entities that have consulted the SEC. 

Recently, the SEC has been notified that some private sector entities have used the SEC’s response letters as references for other persons in various transactions, possibly providing information that differed from what was discussed with the SEC or existed during a different timeframe from the time when the SEC considered the matter. Such use is considered to be for wrong purposes. Therefore, the SEC urges the private sector to exercise caution and refrain from using response letters in such manner.

In any case, the SEC’s response letters to inquiries may contain facts that have changed or are specific to the timeframe when the SEC considers the inquired matters. Therefore, the SEC requests that the general public acknowledge this matter and beware of the limitations of such response letters. 

For further inquiries, please contact SEC Public Service Center Hotline 1207 or the SEC Live Chat on the SEC website. 

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Building Confidence in the Capital Market
NEWS
Securities and Exchange Commission
Corporate Communication and Investor Service Department
Tel. (66)2033-9502-5 E-mail: press@sec.or.th
No. 177 / 2023 Thursday 5 October 2023
SEC warns the private sector to beware of misuse of SEC response letters

Bangkok, 5 October 2023 – The Securities and Exchange Commission (SEC), as the capital market regulator under applicable laws, when approached by the private sector entities on legal matters and regulations, both in the areas of securities and digital assets, will provide written responses to their inquiries based on the facts received from the inquirers at the time. The objective is to ensure that the private sector gains knowledge, understanding, and the ability to comply with the governing laws and regulations properly. Such responses are exclusively intended for the specific private sector entities that have consulted the SEC. 

Recently, the SEC has been notified that some private sector entities have used the SEC’s response letters as references for other persons in various transactions, possibly providing information that differed from what was discussed with the SEC or existed during a different timeframe from the time when the SEC considered the matter. Such use is considered to be for wrong purposes. Therefore, the SEC urges the private sector to exercise caution and refrain from using response letters in such manner.

In any case, the SEC’s response letters to inquiries may contain facts that have changed or are specific to the timeframe when the SEC considers the inquired matters. Therefore, the SEC requests that the general public acknowledge this matter and beware of the limitations of such response letters. 

For further inquiries, please contact SEC Public Service Center Hotline 1207 or the SEC Live Chat on the SEC website. 

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