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Bangkok Post
Bangkok Post
Business

Investment firms in the crosshairs

SEC Securities and Exchange Commission

The Capital Market Supervisory Board (CMSB) under the Securities and Exchange Commission (SEC) has resolved to disallow securities-issuing companies or "investment companies" from offering new securities to the public to protect investors' interests.

Ruenvadee Suwanmongkol, secretary-general of the SEC, said the resolution at the board's most recent meeting on Tuesday is to prevent investment companies from legal infringement, including regulatory arbitrage.

The board defined investment companies as companies that allocate more than 40% of their assets to passive investment, or investing without participating in management.

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