On Feb. 17, 2025, Thai SEC finalized its regulations on clarifying investor classification.
Issued announcement no. SorThor 2/2568 on Detailed criteria for contacting and providing Services to customers for securities and futures business operators.
Announcement no. TorThor 7/2568 on Business standards, management structure, work systems, and services of securities and futures business operators.
As well as announcement no. TorThor 8/2568 on Providing services to customers in investing in capital market products denominated in foreign currencies.
On Dec. 20, Thai SEC proposed criteria for classification of investors.
Thai SEC proposed criteria for classifying and advising institutional investors (IIs) and high net worth investors, to standardize securities and derivatives business practices.
Follows Thai SEC Aug. 2024 proposed improvements to investor classification, #221828.
Proposal Overview
Definition of IIs will now include only those entities capable of self-management, with harmonized definitions across securities and derivatives services for better consistency.
Private funds will automatically qualify as IIs without requiring detailed assessments of underlying investors; this reduces administrative burden while ensuring compliance.
High net worth investors (HNWs) for international investments will be redefined as ultra high net worth investors (UHNWs), with asset threshold of THB 30mn for individuals, THB 60mn for corporations, along with knowledge/experience requirements.
Existing qualified investors (QI) will be automatically reclassified as UHNW.
International investment products now include products on exchanges under IOSCO-recognized regulators/WFE members, was previously limited to WFE-only exchanges.
Businesses must reclassify IIs during the next KYC review or upon new investment requests; rules shall take effect 3 months after publication, to allow preparation time.
Consultation End
Comment period closes on Jan. 3, 2025.
In Dec. 2024, Thai SEC published FAQ regarding UHNWs and HNWs, see #241864.
Feb. 2025 Revision Finalized
On Feb. 17, 2025, Thai SEC finalized its regulations on clarifying investor classification.
Issued announcement no. SorThor 2/2568 on Detailed criteria for contacting and providing Services to customers for securities and futures business operators.
Announcement no. TorThor 7/2568 on Business standards, management structure, work systems, and services of securities and futures business operators.
As well as announcement no. TorThor 8/2568 on Providing services to customers in investing in capital market products denominated in foreign currencies.
