SEC to charge violators to boost Thai stock market confidence

The Securities and Exchange Commission (SEC) is set to initiate legal proceedings against violators of the Securities and Exchange Act to bolster confidence in the Thai stock market. This decisive action highlights the SEC’s commitment to safeguarding investor interests and maintaining market integrity.

According to Anek Yooyuen, SEC Deputy Secretary-General, the regulatory body will persist in addressing cases involving misconduct to protect the benefits of investors and other stakeholders. This year, the SEC anticipates bringing charges in several cases, predominantly involving civil charges related to price manipulation and executive mismanagement.

Following ongoing investigations, the SEC plans to announce charges in a significant case within the week. However, specific details of the case remain undisclosed at present.

In addition to these measures, the SEC has expedited the introduction of the Thai ESG Fund (TESG) in response to growing investor demand for tax deductions. As of today, there are 34 TESG funds, marking an increase of 12 since the end of 2023.

Among the new additions, nine are entirely new funds, while three have requested criteria amendments. These newly established TESG funds offer investors the same tax deduction benefits.

The net asset value of TESG funds has seen an increase from 5.27 billion baht (US$152 million) at the end of 2023 to 10 billion baht (US$288 million) by September this year.

The SEC has also enhanced criteria to support the creation and management of green investment trusts. These trusts aim to facilitate investments in environmentally friendly projects such as greenhouse gas storage in forestry or agricultural activities.

This initiative seeks to empower businesses, investors, and other stakeholders to engage in environmental protection efforts, acting as a conduit for raising capital for green projects, both new and ongoing.

The regulator disclosed that over 112 billion baht (US$3.2 billion) in sustainable bonds were issued from January to September this year, reported Bangkok Post.

“The SEC is dedicated to fostering sustainability among stakeholders, enhancing awareness of its significance in business practices, the environment, and associated economic activities,” Anek stated.