Bangkok, Monday 7 May 2018 - SEC is holding a public hearing on the revision of regulations regarding private funds in order to allow asset management companies to provide custodian service on funds they manage. Therefore, by doing this could enhance flexibility in operation and offer proper protection of investors’ assets without too much burden.
Nowadays, asset management companies are
required to separate investors’ asset from the companies’ ones and introduce
measures to protect investors’ assets for other benefits. Asset management
companies also appoint custodians approved by SEC to safely keep the assets of investors.
However, SEC intends to amend the regulations to
give permission for asset management companies with a custodian services to
protect investors’ asset and stringent
supervision on asset separation to keep private funds safe without asking for
the approval of being custodian again. Such move will improve flexibility in
business operations and encourage business operators to set effective standards
of custodian services.
In addition, in order to prevent assets for the
person authorizing the management of the private fund from being seized by legal
process if asset management companies are in debt, SEC has proposed to revise
the related regulations in order that the investors’s assets could be protected
if this situation happens.
SEC disseminates the public hearing
document about this issue at SEC website: www.sec.or.th/hearing. Any related and interested parties are welcome to make comments on the
website, facsimile: 02-033-9660 or e-mail: kunpatu@sec.or.th or suttikun@sec.or.th
until 1 June 2018.
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