In a statement outlining the 2014-2016 plan, SEC secretary-general Vorapol Socatiyanurak said it would step up the development of the Thai capital market, in terms of liquidity, market capitalization, corporate governance, and sustainable development.
The SEC also said the plan focuses on the role financial intermediaries can play in increasing investor protection.
Thailand’s financial watchdog said it will take measures, such as the issuance of regulations, to accommodate the offerings of overseas financial instruments – equities, debt instruments, and mutual funds. The SEC said it will also conduct comparative studies on laws and regulations of specified foreign jurisdictions to facilitate the listing of foreign securities on the Thai bourse.
During the course of this year, the SEC said it will hold a series of initiatives to emphasize its five "key strategies". The strategies are: to enhance supervisory efficiency, sharpen market competitiveness, foster sustainable development, promote financial literacy and long-term savings for the public, and improve corporate governance and enforcement.
The regulator said: “Key initiatives to be launched in 2014 are, for example, the introduction of professional wealth advisers to provide a service of personal asset allocation and organizing a series of financial literacy projects to reach the main targets, e.g. ‘new generation’ workers in the national employment system and students.”
Talking specifically about the role of intermediaries, an SEC official said it “may issue a set of guidelines or notifications that can enhance the level and raise the professional standards of advisers, which in turn can help in providing efficient asset allocation services”.
Long-term savings tools for specific professions, such as direct sales, will be developed and a variety of investment channels will also be created to serve the public needs.
The SEC expects these initiatives to raise public awareness and understanding of savings and investments scenario, in turn enabling investors to access the products suitable to their investment profile.
Recently, the Stock Exchange of Thailand unveiled a three-year plan that would allow foreign companies to list for the first time.
