The SEC (Securities and Exchange Commission of Thailand) is holding a hearing on the criteria for 'bondholder representatives' to enhance investor protection.

The Securities and Exchange Commission of Thailand (SEC) is seeking public comments on revisions to the regulations governing bondholder representatives, focusing on transparency, preventing conflicts of interest, and improving operational efficiency. The proposal suggests that representatives should be able to take immediate legal action in the event of principal repayment default without requiring a meeting resolution, thereby strengthening bondholder protection and aligning with current circumstances.

December 26, 2568 The Securities and Exchange Commission (SEC) We are seeking public comments on revisions to the regulations concerning bondholder representatives. The aim is to review and improve the oversight of bondholder representatives to make them more appropriate, clearer, and aligned with current circumstances. This will ensure consistent practices and enhance the protection of bondholders.

The Securities and Exchange Commission (SEC) is considering revising regulations related to bondholder representatives to enhance the effectiveness of their oversight. Therefore, it is seeking public comments on these revised regulations. The key points are summarized as follows:

(1) Conflict of interest (COI) between the bondholder representative and the bond issuer.

(2) The personnel qualifications of the bondholder representatives must be consistent with the operation.

(3) The duty of the bondholder representative to report to the Office when important events occur that affect the ability to perform the duties, such as disqualification, conflict of interest, suspension of operations, etc.

(4) The process for the bondholder representative to act when the bond issuer defaults on debt payments, such as in the case of default on principal payments, can be carried out as specified in the terms and conditions and the bondholder representative appointment agreement without requiring the bondholder representative to arrange a bondholder meeting to seek a resolution to take action.

(5) Termination of duties, for example, there must be a list of essential details regarding the termination of duties of the bondholder representative in the bondholder representative appointment contract in order to provide greater clarity.

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