Bangkok, 8 November 2017 ? The SEC is seeking public comments on the draft amendment to the Ministerial Regulation for Securities Business Licenses to provide flexibility and support new businesses in the future. The key objective is to put in place a new licensing regime whereby a more specific type of license could be issued to be in line with the applicant's business model. This aims to replace the current regime whereby each license represents a bundle of business undertakings, which proves to be costly to licensees. The revision would allow more flexibility and support future types of securities businesses.  

The proposed revision covers the principles and the draft Ministerial Regulation for a new licensing scheme whereby an applicant could choose to solely apply for a specific license needed for its business model. This approach could support future entry of all types of securities businesses and increase the number of intermediaries who could render more convenient services to investors. Such new regime would promote a market environment conducive to competition in line with the Ease-of-Doing-Business Policy of the public sector. The new regime would also keep the existing qualification requirements intact and adjust the licensing fee structure to prevent overburdens to business operators.

Essentially, this approach would allow an applicant to apply for a package of licenses at one time. For example, an applicant wishing to undertake brokerage business for equity and debts would be able to apply for such specific package with the Minister of Finance, and could apply for additional licenses later if the applicant intends to undertake other types of securities businesses. The current licensing regime requires an applicant to submit an application according to the types of securities businesses specified by the SEC Office.

In addition, under the new regime, an applicant would pay the application fee of 30,000 baht per securities business per application, and the upfront license fee would be cancelled to lighten the applicant's burdens. Meanwhile, remedies would be compensated to the existing licensees who have paid for the license fees based on the criteria specified under the current Ministerial Regulation as prescribed by the SEC Office.   

The consultation paper is available at www.sec.or.th/hearing. Stakeholders and interested parties are welcome to submit comments through the website or telephone/facsimile at 0-2033-4620 or 0-2263-6050 or email: nattasasi@sec.or.th or rangrong@sec.or.th.   

The public hearing ends on 8 December 2017. 

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