On 23 May 2023, the Capital Market Supervisory Board Meeting No. 5/2566 passed a resolution approving in principle the proposed amendments to the regulations related to disclosure and submission of PVD factsheet and pooled fund data report. The SEC conducted a public hearing to seek stakeholders’ comments and suggestions on this matter during the months of October and November last year. Most respondents agreed with the proposed amendments. 

The SEC has therefore issued two notifications of the amended regulations which contain the key provisions as follows:       

(1) Disclosure and Submission of PVD Factsheet, divided into two cases, i.e.:

In case of adding a new investment policy to the existing PVD, the asset management company (AMC) is required to disclose the PVD factsheet of the new investment policy before offering it to the PVD fund committee. For a pooled fund, AMC is additionally required to disclose the factsheet of the new investment policy to the public and the PVD members as well as submit it to the SEC at least one business day before offering the new investment policy to the PVD fund committee.      

In case of establishing a new PVD, AMC is required to disclose the material information on the investment policy before offering it to the client. For a pooled fund, AMC is additionally required to disclose the PVD factsheet to the fund members and the public, as well as submit it to the SEC within five business days after the new PVD has been established;  

(2) Preparation and Submission of Pooled Fund Data Report: AMC is required to prepare and submit the pooled fund data report on material information about each investment policy of a pooled fund in a dataset format via the E-Reporting System provided by the SEC. The submission period shall align with the submission of the pooled fund factsheet.  

Both notifications have been published in the Government Gazette on 16 January 2024 and will become effective from 1 June 2024 onwards. 

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Remark:  

* Notifications on the relevant regulations are:  

(1) Notification of the Capital Market Supervisory Board No. Tor Nor. 59/2566 Re: Establishment of Mutual Funds for General Investors and Non-Retail Investors and Contract on Offering of Private Fund Management Service (No. 14):  https://publish.sec.or.th/nrs/10024p_r.pdf   

(2) Notification of the Office of the Securities and Exchange Commission No. Sor Nor. 34/2566 Re: Rules, Conditions and Procedures for Managing Provident Funds (No. 4):  https://publish.sec.or.th/nrs/10023p_r.pdf