On Apr. 17, 2025, Thai CB said registration for SupTool must be completed in phases.
Businesses with transactions from Apr. 2024 to Mar. 2025 must register by May 22, 2025; those without transactions/new operators must register once operations begin.
Entities are required to complete and submit self-assessments via SupTool as required, or risk non-renewal of their license by the Thai GVT upon Thai CB recommendation.
Businesses must continue to submit foreign exchange transaction reports through the data acquisition and publication (referred to DAP) system as per current rules.
If no transactions occur, blank file must be submitted within 7 days after period ends.
On Mar. 14, Thai CB issued rules re the Ongoing supervision tool.
Thai CB issued regulations re use of the Ongoing supervision tool (SupTool) system.
The system facilitates communication, document submission, survey completion, self-assessments, and progress reporting between Thai CB and supervised entities.
The specified regulation establishes procedures, standards, and identity verification methods to ensure secure information exchange between Thai CB and system users.
Document dated Mar. 14, 2025, received from Thai CB Mar. 18, summarized Mar. 20.
Outline of Regulations
Establishes a framework for entities to register and use the SupTool system for regulatory supervision activities; entities wishing to use the system must submit an agreement form (ST1) and appoint system rights managers (using form ST3).
Organizations can appoint or remove rights managers through specified procedures.
Rights managers can appoint or remove operators in the system through designated processes; users who wish to terminate system access must notify Thai CB at least 30 days in advance; all activities performed are legally binding on the user entity.
Entities must maintain all documents, evidence for inspection as requested by Thai CB.
Thai CB reserves the right to suspend service at any time with reasonable notice, may amend, add to, or change these regs and the system user manual as appropriate.
Thai CB has the sole authority to interpret these regulations in case of any disputes.
Effectiveness
The regulation is effective from the date of announcement, i.e. Mar. 14, 2025.
Apr. 2025 Implementation
On Apr. 17, 2025, Thai CB said registration for SupTool must be completed in phases.
Businesses with transactions from Apr. 2024 to Mar. 2025 must register by May 22, 2025; those without transactions/new operators must register once operations begin.
Entities are required to complete and submit self-assessments via SupTool as required, or risk non-renewal of their license by the Thai GVT upon Thai CB recommendation.
Businesses must continue to submit foreign exchange transaction reports through the data acquisition and publication (referred to DAP) system as per current rules.
If no transactions occur, blank file must be submitted within 7 days after period ends.
Regulators
Thai CB
Entity Types
B/D; Corp; MSB
Reference
Nt BOT 2681/2568, 4/17/2925; Reg 1/2568, 3/14/2025
Functions
Compliance; Operations; Record Retention; Registration/Licensing; Reporting; Risk; Technology
