The cooperation between SEC and the Faculty of Law, Chulalongkorn University under these 2 MoUs is the beginning of a concrete cooperation on the following matters:  

            (1) Cooperation in developing business and human rights training courses for business sector in the Thai capital market is an assigned mission under the National Action Plan on Business and Human Rights Phase 1 (2019 – 2022) or NAP Plan, following the United Nations Guiding Principles on Business and Human Rights (UNGPs), to assist business sector integrate human rights into its business operations. Earlier, during the second meeting of the working group on developing training courses on “Business and Human Rights for Business Sector in the Capital Market” which held on 30 November 2020, the working group had already approved the Faculty of Law, Chulalongkorn University to prepare and design the structure for the training courses and seminars on this matter; and 

            (2) Cooperation in developing standard practices on personal data protection in compliance with the Personal Data Protection Act and supporting the issuance of subordinate rules and regulations under the Act which will be effective in 2021. 

SEC Secretary-General Ruenvadee Suwanmongkol said, “Cooperation in preparing business and human rights training courses for the business sector in the Thai capital market answers the mission that SEC, as a government organization, has been assigned under the NAP Plan which following UNGPs Guiding Principles to support the business sector in the Thai capital market, especially listed companies, to value the issue of human rights and be able to integrate human rights into their business operations as appropriate. SEC anticipates that listed companies will be ready to disclose information regarding its business and human rights practice in the 56-1 One report in 2022 in response to the expectation of global investors who weigh in on this data and preferably use it for investment decisions. 

“Moreover, SEC is well aware that, in rendering services, business operators in capital market inevitably need to access personal data of customers. The business sectors in capital market, especially the operators and relevant agencies, thus, needs to know and understand the principles and rationales of customer’s data protection and are required to operate their businesses in compliance with the Personal Data Protection Act B.E. 2562 (2019). Preparing the readiness of personnel in capital market at all levels of the organization is, therefore, the fundamental task for business operators under Thailand’s personal data protection standards and is coherent with international standards. Our cooperation with the Faculty of Law, Chulalongkorn University will help strengthen the preparedness of business operators in the Thai capital market in this matter and enhance Thailand’s personal data protection standards to be comparable to the international level.” 

Assistant Professor Dr. Parina Srivanit, Dean of the Faculty of Law, Chulalongkorn University said, “In order to raise awareness about human rights, we need to prepare  business sectors in capital market to operate businesses with respect on human rights by using UNGPs Guiding Principles as the basis for training courses, seminars and guidelines. In addition, in term of human rights, personal data protection is an important and indispensable issue and the Personal Data Protection Act B.E. 2562 (2019), which will be effective in 2021, states the direction thereof. The Faculty of Law, Chulalongkorn University is delighted to participate in this project to help the preparations and develop personal data protection standards. Our deliverables will include development of guidelines, trainings, seminars and preparing online training materials, in order to support the compliance with the Act and the issuance of subordinate rules and regulations under the Act or any other relevant laws that will be enacted in the future.” 

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