On Sep. 6, Thai SEC issued guidance regarding reports submission.
Thai SEC issued announcements re specific reporting forms for securities, derivatives business operators; criteria and deadlines for securities companies to submit reports.
Document dated Sep. 6, 2024, received from Thai SEC Sep. 16, summarized Sep. 18.
Reporting Forms
Specifies reporting forms for securities and derivatives business operators; repeals previous announcements no. 50/2559, 60/2562 regarding reporting requirements.
Defines which business operators are subject to these reporting requirements; requires submission of financial statements, transaction reports, client asset reports online.
Allows operators to request extensions for report submission under certain conditions.
Criteria and Deadlines
Establishes criteria and deadlines for securities companies to submit reports; repeals the previous announcement no. 59/2552 on reporting requirements.
Requires submission of financial status reports, business reports, and other necessary documents; deadlines are set based on the companies' capacity to comply.
Focuses on monitoring financial conditions, market impact, regulatory compliance.
Effectiveness
Both announcements are effective from Dec. 1, 2024.
Oct. 2024 Reporting Requirements
On Oct. 2, 2024, Thai SEC revised reporting requirements for securities, derivatives business operators, to obtain in-depth information for supervising business operators.
Business operators must provide more granular data, to help monitor business risks, systemic risks, ensure market fairness; protect investors, capital market as a whole.
Established data standards to support open data exchange between business operators.
The scope of report submissions now includes only necessary data/documents, within suitable timeframes, to help Thai SEC fulfill its legal duties and protect investors.
Business operators are required to submit detailed weekly reports, categorized by individual customers, securities; new regulations will be effective from Dec. 1, 2024.
