SEC: Law amendments needed to stamp out securities crimes | Bangkok Post: business

MARKETS

Thailand's securities laws need to be changed to close enforcement loopholes, according to Vasant Thienhom, deputy secretary-general of the Securities and Exchange Commission.

He singled out three aspects of the enforcement process that need to be changed: the lengthy time required now for the investigative process; the multiple steps involved in enforcement; and the lack of civil penalties under the law.

In the past, an investigation into a share-manipulation or insider-trading case could take as long as 2-3 years. Improved technology, better co-ordination among state agencies and greater understanding of the SEC Act have helped shorten the time to 18 to 24 months, an improvement from the past but still a relatively long period.