Thailand: Financial Sector Assessment Program: Detailed Assessment on the Implementation of the IOSCO Objectives and Principles of Securities Regulation
IMF Staff Country Reports, May 15, 2009
Source details
- Canonical URL
- Thailand: Financial Sector Assessment Program: Detailed Assessment on the Implementation of the IOSCO Objectives and Principles of Securities Regulation
Other formats
Bibliographic details
- Published: May 15, 2009
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451836875.002
Summary
- This paper presents key findings of the detailed assessment on the implementation of the International Organization of Securities Commissions (IOSCO) objectives and principles of securities regulation for Thailand.
- The assessment recommends creating a formal coordination mechanism among governmental agencies with regulatory authority over capital markets.
- The Securities and Exchange Commission (SEC) should amend its code of conduct and provide that restrictions on securities investments by its staff also applies to spouses, minor children, and all other accounts over which an employee has the authority to make investment decisions.
Key Findings
- Assessment focus: implementation of IOSCO objectives and principles of securities regulation in Thailand.
- Identified governance gap: absence of a formal coordination mechanism among governmental agencies with regulatory authority over capital markets.
- Conduct and conflicts of interest: SEC code of conduct does not currently extend investment restrictions to spouses, minor children, and other accounts controlled by staff.
Policy Recommendations
- Create a formal coordination mechanism among governmental agencies with regulatory authority over capital markets to improve regulatory coherence and oversight.
- Amend the SEC code of conduct to:
- Provide that restrictions on securities investments by SEC staff also apply to spouses, minor children, and all other accounts over which an employee has the authority to make investment decisions.
Subject Areas and Keywords
- Subject: Auditing; Financial institutions; Legal support in revenue administration; Mutual funds; Public financial management (PFM); Revenue administration; Securities; Stocks
- Keywords: Auditing; business operation; company assets; CR; equity trading; insider trading; internal auditor; ISCR; Legal support in revenue administration; Mutual funds; SEC disclosure system; SEC regulation; SEC staff; SEC tape recording rule; Securities; SET regulation; shareholder meeting; Stocks; tender offer