Bangkok, 20 July 2021 – The Securities and Exchange Commission (SEC) has amended the regulations on the calculation method of annual fee* for listed companies that do not submit the financial statements for the latest financial year within deadline. The amendment allows the use of the shareholders’ equity in the latest financial statements submitted to the SEC to calculate the annual fee to be more appropriate and up-to-date in accordance with the guidelines under the regulatory guillotine scheme.**
Pursuant to the Notification concerning Determination of Fees
for Filing of Registration Statement, Registration and Other Applications, as
amended, the calculation of fees shall be based on the shareholders’ equity in
the financial statements for the latest financial year submitted to the SEC. In
the case where a company fails to submit the financial statements for the latest
financial year but submits other financial statements to the SEC such as the quarterly
financial statements that contain more updated information, the shareholders’
equity in such financial statements submited before or on 31 March of each year
may be used instead. This is to ensure that the fee calcualtion is based on
more updated information. In any case, the fee rates remain the same without
any revision. The amended Notification above has come into effect since 16 July
2021.
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Remarks:
*
Notification of the Office of the Securities and Exchange Commission No.
Sor Bor. 28/2547 Re: Determination of
Fees for Filing of Registration Statement, Registration and Other Applications,
dated 7 July 2004.
** Regulatory
Guillotine is the regulatory review of the existing laws and regulations. The
reviewed laws and regulations that are not necessary or do not keep pace with
situations or remain obstacles to living or occupations will be abolished or
revised to lessen burdens on people. By doing so, methods used must be done
with speed, transparency, low costs with participation of all related parties.