Regulator, DSI aim to raise investigative efficiency

Regulator, DSI aim to raise investigative efficiency

Ms Ruenvadee (second from left) chairs the SEC meeting with the DSI to discuss ways to proactively enhance their collaboration both in the process of investigating and examining offences in the capital markets.
Ms Ruenvadee (second from left) chairs the SEC meeting with the DSI to discuss ways to proactively enhance their collaboration both in the process of investigating and examining offences in the capital markets.

The Securities and Exchange Commission (SEC) has partnered with the Department of Special Investigation (DSI) to enhance the regulator's efficiency in investigating wrongdoings in the capital market.

The SEC is also considering adding the nature of offences under the law on digital assets and derivatives contracts in the footer of DSI Law.

SEC secretary-general Ruenvadee Sawanmongkol said that the SEC and DSI met on Nov 8 to discuss ways to proactively enhance their collaboration both in the process of investigating and examining offences in the capital markets which are economic crimes that affect society and the public.

Ms Ruenvadee said during the meeting the participants discussed data linking and the use of technology in law enforcement and e-enforcement to monitor and prevent any wrongdoings in the capital market.

The regulator is also considering developing a guideline to appoint a special case investigation officer under the Securities and Exchange Act to enhance its investigative authority, she said.

The SEC officer shall be an investigator and have the power to directly investigate under the Criminal Procedure Code when insider trading or the dissemination or certification of false statements and information are detected.

She said as the SEC already has expertise and readiness in investigating securities offences, the legal investigative authority will shorten the investigation process.

The regulator has also proposed amendments to the law stipulating witness protection under the SEC's scrutiny to encourage rapid prosecution of offenders.

Ms Ruenvadee said the collaboration is in line with a memorandum of understanding on the prevention and suppression of special case offenses, which DSI and the SEC signed on July 15, 2019 to make the law enforcement process faster and more succinct.

It also covers cooperation in supporting personnel, knowledge and technology between the two agencies.

According to the SEC, it is critical to keep the law up-to-date and in line with economic and societal changes over time even though it takes some time for the laws to be efficiently implemented.

The legal draft amendment is currently being prepared to add additional laws under the supervision of the SEC to promote digital capital markets and keep pace with technological changes.

The new laws will help the SEC evolve with the changing ecosystem of the capital market in the digital era, protect investors and promote fundraising in the market.

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