Cabinet approves draft of Electronic Securities Act to support digital transactions in capital market
Cabinet approves draft of Electronic Securities Act to support digital transactions in the capital market, increase regulatory efficiency, and facilitate investors and entrepreneurs in the technology economy era.
On June 10, 2568, the Thai government website revealed that Ms. Sasikarn Wattanachan, Deputy Government Spokesperson Revealed that the Cabinet approved the draft Securities and Exchange Act (No. ..) B.E. .... which the Office of the Council of State (O.C.) has examined and acknowledged the plan to draft secondary legislation, the time frame and the substance of the secondary legislation issued in accordance with the draft Securities and Exchange Act (No. ..) B.E. .... as proposed by the Ministry of Finance (MOF).
The gist of the draft Securities Act, as the Cabinet resolved on 14 February 2566, to approve in principle the draft Securities and Exchange Act (No. ..) B.E. ..., the draft Derivatives Act (No. ..) B.E. ..., the draft Trust for Transactions in the Capital Market Act (No. ..) B.E. ..., and the draft Act to Amend the Digital Asset Business Act B.E. 2561 B.E. ..., a total of 4 editions, as proposed by the Ministry of Finance and sent to the Office of the Council of State for consideration.
The main content is to support the use of appropriate technology in various transactions in the capital market, create clarity in supervision, and increase efficiency in law enforcement. The draft of the Securities and Exchange Act (No. ..) B.E. ... has been amended in 6 important issues, including:
1.1 Add provisions to support electronic processes in the capital market.
1.2 Amend the supervision of securities business operators and futures business operators to be consistent and in accordance with international standards.
1.3 Increase the fee setting for business operations, professional practices, or services as approved by the Securities and Exchange Commission (SEC).
1.4 Add a provision on the penalty of a fine for criminal offenses under the Securities and Exchange Act B.E. 2535.
1.5 Increase witness protection measures during the inspection and evidence collection phase by officials.
1.6 Add provisions to empower officers of the Securities and Exchange Commission to act as investigators and have the authority to investigate certain types of offenses.
In this regard, regarding the issues in items 1.1 and 1.6, the Ministry of Finance has proposed a draft Royal Decree amending the Securities and Exchange Act (No. ..) B.E. ...., which the Cabinet approved in principle on March 27, 2568 and is currently under the consideration of the Office of the Securities and Exchange Commission. Later, during the consideration of the four draft acts, the SEC intends to separate the provisions related to electronic securities, according to the issue of adding provisions to support electronic processes in the capital market according to item 4, into a separate section as the draft Securities and Exchange Act (No. ..) B.E. .... (Electronic Securities) so that it can be enforced first, which will support the use of financial technology in issuing products and conducting transactions in the capital market, and will also help facilitate and create more confidence in the operations of the capital market.
In addition, the Council of State (Committee 3) considered and saw that the provisions on electronic securities can be separated into a law for prior enforcement without affecting the substance of the draft Securities and Exchange Act (No. ..) B.E. .... which is still under consideration. Therefore, it assigned the Secretariat of the SEC to draft the Securities and Exchange Act (No. ..) B.E. .... (Electronic Securities).
The main content is an amendment to the Securities and Exchange Act B.E. 2535 and its amendments by adding provisions to support the issuance of securities by electronic means and specifying penalties for violations or failure to comply with the criteria set forth regarding electronic securities in order to support and promote the use of technology in issuing products and conducting transactions in the capital market, including facilitating the public, which will lead to an improvement in the quality of life of the public and the country’s competitiveness in the digital society of the future.
Source: www.thaigov.go.th
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