SEC rejig to improve law enforcement

SEC rejig to improve law enforcement

The Securities and Exchange Commission building on Vibhavadi Rangsit Road. (Photo: Patipat Janthong)
The Securities and Exchange Commission building on Vibhavadi Rangsit Road. (Photo: Patipat Janthong)

The Securities and Exchange Commission (SEC) has restructured its organisation, strengthening its law enforcement role to ensure greater efficiency and build up confidence in the Thai capital market, as well as support the development of the digital economy and ensure sustainability.

Effective from today, the regulator has a new law enforcement section to handle the increasing volume of work that requires fact-finding and could lead to legal action.

A new assistant secretary will be in charge of law enforcement, the SEC statement said.

"The legal team will report directly to the SEC's secretary-general for checks and balances because the legal field is a line of work where all principles are connected. The section will also provide legal advice to other departments of the SEC," the statement noted.

Work related to listed companies and law enforcement is now grouped together so all tasks can be coordinated, including monitoring the fund mobilisation of companies.

Under the new structure, which was endorsed by the SEC board on Nov 2, the complaints unit is separated, with a new unit to receive and follow up on all complaints.

The section is expected to handle both complaints within the scope of the SEC's authority and complaints against the regulator and its personnel.

Meanwhile, the work of supervising and inspecting information pertaining to technology risks (IT audit) is centralised under one department that can monitor the whole system.

Work relating to intermediary and investment management was reorganised to improve efficiency and support the increased workload.

"A new division was set up to oversee financial innovation and digital technology. This aims to promote the use of technology and financial innovation to increase efficiency and reduce costs in accessing capital sources for the business sector," noted the statement.

The division should also enhance investors' capacity to access funding and allocate their investment appropriately, said the SEC. The new division will propose policies for developing and regulating the use of financial technology and innovations, noted the regulator.

The new structure consists of four deputy secretary-generals, 12 assistant secretary-generals, 36 divisions and one centre.

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