E-licensing service kicks off

The Securities and Exchange Commission (SEC) has authorised the first e-licence application made via its Biz Portal platform that allows securities businesses to file a request for an operating licence online, the regulator said in a statement on Wednesday.

The licensing was endorsed by Finance Minister Arkhom Termpittayapaisith in January in accordance with the country's digital transformation policy and new legislation on e-government.

The move was also in line with the SEC's Digital Services Roadmap that aims to reduce the time involved and facilitate better services for taxpayers and businesses in the filing process.

The SEC launched Biz Portal, an electronic platform that provides one-stop public services, in October last year.

The project is a joint effort between the Digital Government Development Agency (DGA) and the Office of the Public Sector Development Commission (OPDC).

The platform allows business operators to submit requests via forms and documents, as well as receive licences electronically. Initially, the Biz Portal platform plans to provide operating licences to brokerages as well as trading and securities businesses, including private fund management firms, said the SEC statement.

In the past, the SEC adopted technologies and applications to facilitate public use and increase transparency.

By connecting with data from the government sector, the service can verify with credibility and precision, as well as reduce the unnecessary use of paper copies, according to the statement.

"The digital transformation of public services includes identity verification, in line with the Electronic Operations Act of 2022 and standard practices set by government agencies," said the SEC.

"The SEC will continue to develop online services and reduce burdens for document preparation and travel expenses for the public as well as private businesses in the future."