Bangkok, Monday 2 April 2018 – SEC is conducting a public hearing on the regulations of fintech operators conducting an analysis of investment, providing advisory process and making investment decision for investors, aiming to stimulate both existing securities operators and new ones to offer new services and increase channels for investors to access and receive standardized service. SEC has opened for public comments to revise the regulations on supervision of fintech since securities business operators now apply fintech in order to improve their service efficiency for investors. For example, algorithm or computer coding has been used in the process of investment analysis, advice and investment decision-making. Therefore, it could lead to new forms of services. The investors could also have more alternatives and accumulate more wealth in the long run.
SEC studied regulations in other countries to
find proper guidelines for supervision, focusing on standardized services and
putting investors first. The matter is still under the discussion with the securities business operators.
The proposed guidelines and this public hearing will be presented to securities
business operators who plan to apply fintech in the capital markets must comply
as follows:
(1)
Implement a policy on fintech application at board or
executives level ;
(2)
Have persons understand the basic principles of technology
usage;
(3)
Allow fund managers or securities analysts to participatein
fintech development/application processes;
(4)
Have control and inspection system for algorithm;
(5)
Have data management and governance;
(6)
Disclose scope and limitations of service system to the
investors.
SEC publishes the public hearing information
about this issue at SEC website: www.sec.or.th/hearing
Any related and interested parties are welcome
to make comments on the website or facsimile: 0-2263-6456 or e-mail: phakhaku@sec.or.th or kunpatu@sec.or.th until 27 April 2018.
_____________________________