No products in the basket.
SEC’s new boss vows to speed up investigation process
The new chairman of Thailand's Securities and Exchange Commission (SEC), Wisit Wisitsora-at, aims to accelerate the investigation process to minimize damage from fraud allegations at listed companies.
The Stock Exchange of Thailand is currently facing instability due to multiple fraud scandals involving prominent members of the Thai business sector.
- The new chairman of Thailand’s Securities and Exchange Commission aims to expedite investigations to address fraud allegations and restore investor confidence in listed companies.
- Collaboration with the Stock Exchange of Thailand (SET) is prioritized to accelerate the investigation process and minimize market impact of fraud cases.
- The SEC plans to develop regulations for new funding alternatives like digital assets and carbon credits, while also introducing flexible licensing structures for securities and derivatives businesses.
The new chairman of Thailand’s Securities and Exchange Commission (SEC), Wisit Wisitsora-at, aims to accelerate the investigation process to minimize damage from fraud allegations at listed companies.
He intends to collaborate closely with the Stock Exchange of Thailand (SET) to expedite investigations and classify cases by their impact.
“Going forward, the SEC and the SET should collaborate from the start to investigate fraud cases more efficiently, without waiting for information to be sent. Acting promptly on early signs of problems can minimize the damage,” he stated.
Additionally, Wisit is focused on creating alternative funding options like digital assets and carbon credits, as well as enhancing the flexibility of licensing for securities and derivatives firms. Under Wisit’s guidance, the SEC is committed to bolstering investor trust and fostering sustainable development in the capital market.
Scandals, such as accounting irregularities, debt defaults, and unexplained share price fluctuations, can significantly impact investor confidence and the overall performance of the SET. For instance, recent accounting scandals and bond defaults have led to a sharp decline in the market value of several companies, causing volatility and uncertainty among investors.
One of the most recent events that affected the Thai market was the scandal involving Stark Corporation. The incident occurred when the corporation was accused of an accounting scandal and embezzlement of funds.
Investors are now demanding stricter oversight of Thailand’s capital markets after a series of scandals and the sudden default of Stark Corp, a $2 billion company.
Another recent event that impacted the Thai financial markets was the Securities and Exchange Commission’s (SEC) accusations against Energy Absolute (EA), which is one of the leading renewable energy companies in the Thai financial market.
Discover more from Thailand Business News
Subscribe to get the latest posts sent to your email.
