Bangkok, March 22, 2016 ? The SEC is seeking public comments on the proposals to amend several provisions of the Securities and Exchange Act (SEA) B.E. 2535 (1992) and the Provident Fund (PVD) Act B.E. 2530 (1987) to be in line with the International Organization of Securities Commissions (IOSCO)?s principles, and to promote active engagement of market participants regarding securities business undertaking as well as to protect investors? best interest.?

The four key areas are:?

1. Provisions on Stock Exchange: The proposed revisions include (1) granting the power to approve the rules on securities trading and clearing and settlement of listed securities to the Securities and Exchange Commission, to be in line with international standards, (2) restructuring the SET Board of Governors structure to increase engagement and representation of a broader range of market participants such as investment management companies, listed firms, institutions or associations whose main focuses are investor education, protection of investors? rights, and/or good governance, and (3) granting the SET Board of Governors the power to allow trading access to non-members of SET, which would enhance SET to have flexibility in its decision on appropriate forms of alliance with foreign counterparts to support future trading linkage;

2. Supervision of Securities Business: Licensing provisions would be amended to grant the Securities and Exchange Commission the power to issue and revoke securities business licenses as well as the power to approve additional types of securities businesses and specify paid-up registered capital thereof. These amendments are expected to enhance flexibility and industry adjustment to the fast changing market environment;

3. Supervision of Mutual Fund Management: The mutual fund governance structure would be revised to further ensure that management of investment money would be for the best interest of investors by introducing an oversight mechanism, either for independent body or person, to undertake the supervisory role over investment management companies. The proposed revision also includes the ability for investment management companies to seek unitholders? resolution by holding a meeting for such purpose in addition to via postal mail;?

4. Supervision of Provident Fund Management: The responsibilities and qualifications of fund committees would be further prescribed, and the fund registrar would be allowed to choose a default investment plan for members, for example, a life path-oriented plan that would adjust members? investment portfolios automatically and appropriately as they approach the retirement age. The amendments would promote growth of fund sizes and sufficient retirement savings.

SEC Secretary-General Rapee Sucharitakul said: ?The SEC?s primary role is to promote sustainable growth of our capital market.? Hence, we take all factors, such as growth, market development, social changes and disruptive technologies, into account in discharging such duty. These changes inevitably affect the way funds are mobilized as well as how products and services are being offered to the investor.

The proposed law amendments, therefore, would serve as a main building block to further enhance our capital market?s competitiveness and efficiency in line with international standards, and introduce a fundamental mechanism for retirement savings and investment choices that support good quality of life after retirement.?

The consultation papers for all hearings are available at www.sec.or.th. Stakeholders and interested parties are welcome to submit comments and suggestions through the website. In addition, comments on Stock Exchange supervision can also be sent via facsimile 0-2263-6335 or email: jarun@sec.or.th, securities business supervision via facsimile 0-2263-9777 or email: namporn@sec.or.th, and restructuring of mutual fund governance and PVD management via facsimile 0-2263-6333 or email: sumitra@sec.or.th.

The hearing on securities business supervision is running until 18 April 2016, and the rest until 21 April 2016.?