Bangkok, Monday 29 January 2018 – SEC has believed qualified wealth advisors who are easily accessible to the investors ,and also use fintech as a financial planning tool, and has disclosed the public hearing results to determine the supervision regulations for ICO of securities tokens.
SEC Secretary-General, Nataya Niyamanusorn
said, “SEC has seen the wealth advisors having important role for the investors
because they could make the investors realize financial planning as a living skill
after the Thai society has stepped into the ageing society. However, ageing
people may not have enough money after retirement and investors have not yet achieved
their targeted returns on investment or have had enough money for long term. Therefore,
SEC has gone ahead with the main strategic plan this year, promoting qualified
wealth advisors easily accessible by people to use fintech as the financial
planning tool and raising people’s awareness into actual implementation.
“In order to promote wealth advisors,
SEC will amend the regulations to attract and reduce obstacles for new and
existing operators to have more financial planning and consulting services. Basically,
an integrated wealth advisor will be consisted of five main elements: (1) surveying
and knowing customers with financial health checkups through a risk assessment
test and target determination; (2) determining an investment plan according to
acceptable risks and targets determined; (3) making investment according to an
investment plan with proper instruments; (4) monitoring and adjusting
investment proportion in according to acceptable risks and investment targets;
and (5) reporting the overall investment of customers. If business operators
are able to provide services with these five elements, people should be
satisfied with long-term financial planning for healthy financial status.”
SEC Secretary-General, Rapee
Sucharitkul said “in regard to the hearing result of the supervision on ICO on
securities tokens, after allowing related parties to make comments through
several channels for approximately three months ending 22 January, most of
those commenting agreed on the proposed supervision on ICO of securities
tokens. SEC will start from allowing ICO of investment tokens which are not the
existing securities like equity or debt instruments. Most of those making
comments also agreed on a requirement to mobilize fund via ICO portals approved
by the SEC. ICOs can be placed to institutional investors, private equity
funds, venture capital firms, and ultra-high net worth investors. With respect
to individual investors, SEC has received diverse comments involving
restrictions on investment in ICO. Therefore, SEC will take comments from all
parties into consideration and revise the regulations more properly.”
SEC
will present the public hearing’s results to the Capital Market Supervisory
Board and the SEC Board, expecting to finalize the supervisory guidelines
within the first quarter.
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