The absence of a Thai entry in the 2017 Out-of-Cycle Review of Notorious Markets list, announced by the US Trade Representative (USTR) last week, reflected the progress Thailand had made in enforcing intellectual property protection, said Commerce Minister Sontirat Sontijirawong.

From 2007 to 2016, 13 Thai shopping malls had been named on the list. With the government’s efforts to clam down on intellectual property infringements, there was only one local mall on the 2016 list. The list covers physical and online markets.

SEC IN ADVISORY PUSH

The Securities and Exchange Commission (SEC) has launched strategic plan for 2018-20 that will see a greater focus on the provision of wealth advisory services for the long-term well-being of investors along with the promotion of sustainable efficiency in all aspects of market development.

The three-year plan involves several key implementations, including support for the entry of wealth advisory service providers, optimum utilisation of technologies and innovations to facilitate fast market access, more efficient cost management of existing and new intermediaries in fulfilling investors’ demands, enhancing market supervisory standards, and corporate reform to streamline procedures and reduce compliance cost. 

SEC Secretary-General Rapee Sucharitakul said: “Over the years, the investing public has experienced certain limitations with access to the capital market for financial advice and planning. This is generally because limited service channels and expenses have been affordable mostly by high- income earners. The strategic plan aims to address this issue by facilitating intermediaries’ creation of innovative service channels and provision of wealth advice, product knowledge and understanding for potential investors to create their own financial well-being beyond retirement.

“Additionally, the SEC will continue to promote alternative fundraising methods for small-sized enterprises and startups that use technologies to manage costs on the existing platforms, for example, crowdfunding.

In promoting effective supervision, Rapee said the SEC would continue to focus on three areas: regulatory discipline; self-discipline of companies and executives; and market forces. 

In so doing, the SEC is cooperating with agencies and organizations, both public and private, to strengthen supervisory standards and common practice guidelines for listed and regulated companies. 

The plan focuses on development in five key areas as follows:

 1. Wealth advice for All: To support providers of financial advice and financial planning in delivering accessible and good quality services to the public, and to promote the use of financial technology (FinTech), both as a business tool and an assistance for financial planning;

 2. Fund mobilisation for businesses of all sizes sizes: To create alternative fundraising methods for SMEs and startups that will address issues related to access and costs of the existing fundraising channels, to promote fund mobilisation of neighbouring countries, and to create opportunities for Thai business operators to grow regionally;

 3. Market competitiveness: To strengthen Thai market competitiveness by building robust infrastructure compatible to digital business models;

 4. Risk foresight and effective supervision: To be fully knowledgeable of relevant risks to support effective market supervision, and to enhance supervisory standards in regulating listed companies and commercial banks giving services as selling agents of investment units; and

 5. Corporate reform: To revise regulatory issuance guidelines to ensure that all rules and regulations are issued for necessary reasons and taking into consideration compliance cost, impacts and effectiveness evaluation, and to build database systems and infrastructures that maximise the use of technologies to support future work of the SEC. 

Source: http://www.nationmultimedia.com/detail/Economy/30336304