Bangkok, 27 October 2016 ? The SEC is seeking public comments on the proposed rules concerning the definitions and qualifications of chief financial officers (CFO) and accountants working for initial public offering (IPO) companies. The purpose is to ensure that CFOs and accountants clearly understand the expected roles and responsibilities in preparing financial reports and internal control system which could have a significant impact on the quality improvement of the financial statements of issuing companies.

In drafting the rules, the SEC has taken into consideration stakeholders? and public comments gathered earlier from the hearing on the guiding principles in July this year, and made further revisions to enhance flexibility and appropriateness in practice.

Essentially, the rules would revise the definitions and qualifications of CFOs and accountants, and the disclosure of securities offering information via Form 69-1, which would help to build a more efficient ecosystem where quality financial reporting and duty performance of market participants would benefit both fund mobilizers and investors.

The proposed rules are expected to take efffect on 1 January 2018.

The consultation paper is available at www.sec.or.th/hearing. Stakeholders and interested parties are welcome to submit comments through the website, or facsimile at 0-2263-6354 or email: sarocha@sec.or.th.

The public hearing ends on November 26, 2016.