Thailand’s Securities and Exchange Commission (SEC) is proposing an amendment to securities legislation to give itself investigative power, according to a report in the Bangkok Post, quoting Secretary General Ruenvadee Suwanmongkol.
Unlike counterparts in Indonesia, Malaysia and Singapore, the Thai regulator does not have the right to probe breaches of securities law in the country. Investigations are conducted by the Justice Ministry and the Central Investigation Bureau.
Ms. Ruenvadee says the law enforcement process would be faster and more efficient if the Securities and Exchange Act gives the SEC investigative power and the ability to write its own cases for prosecution.
“The proposed amendment is expected to be submitted to the SEC’s board of directors, then to the finance minister during the first quarter of next year,” Ms. Ruenvadee is quoted as saying in the September 25 news report.
Spokespersons for the SEC did not immediately respond to questions from Asia Asset Management.
