SEC, SET stress goal of restoring confidence in Thai capital market
Task spearheaded by Wisit Wisitsora-at, chairman of SEC since taking office five months ago
Restoring confidence in the Thai capital market remains a critical mission for the Securities and Exchange Commission (SEC) and the Stock Exchange of Thailand (SET).
This urgent task is spearheaded by Wisit Wisitsora-at, chairman of the SEC, who has focused on resolving key issues since taking office five months ago and continues to push for further progress.
Wisit emphasised the importance of collaboration between the SEC and SET, highlighting the need for clearer regulatory oversight, reducing redundancies, and aligning with the evolving ecosystem and dynamics of the capital market.
On December 9, the SEC and SET are scheduled to meet to discuss regulatory strategies and development plans for participants in the Thai capital market for the new year. The goal is to enhance the effectiveness of joint oversight within the legal frameworks and regulations of each organisation.
This reflects the commitment of both institutions to ensuring a well-regulated, fair, credible capital market that fosters investor confidence and supports sustainable growth for the benefit of the national economy, they say.
"We stress the importance of balancing regulation with promotion and development. Both organisations play vital roles in driving the Thai capital market forward," Wisit said.
“Changes will be introduced methodically, ensuring effective policy formulation for both regulation and market development. When it comes to problem-solving, we don’t have unlimited time. Defining the right objectives will lead to meaningful research and actionable policies."
Additionally, the SEC is maintaining its focus on urgent tasks outlined earlier, including building investor confidence and promoting the Thai capital market, with a timeline of three to six months.
The SEC remains focused on reforming its law-enforcement processes to enhance efficiency and effectiveness. This reform aims to boost investor confidence in the Thai capital market and ensure the market operates in accordance with true market mechanisms and fundamental factors.
A key part of this mission involves categorising cases based on their impact level – high, medium, or low – and establishing clear timeframes for law-enforcement actions, from initiation to conclusion. This would significantly reduce the duration from years to mere months. These timelines will serve as performance indicators (KPIs) for measuring enforcement efficiency.
The SEC is laying the groundwork for a digital Thai capital market infrastructure. This involves leveraging AI (artificial intelligence) technology to analyse evidence, detect irregularities, and streamline the sharing of data while integrating systems with the SET to minimise redundancy. This approach aligns with the evolving ecosystem and rapid changes in the capital market.
The SEC aims to promote investment in new asset classes, particularly investment tokens. These digital tokens are designed to expand funding opportunities and support Thailand's economic growth.
Reflecting on the past five months since taking office, Wisit noted significant improvements in the collaboration between the SEC and SET, describing the progress as both swift and efficient. He emphasised that the integration of knowledge, research, and data into policy-making has successfully reduced future risks in the Thai capital market.
Last, he expressed confidence that this marks a transformative opportunity for the Thai capital market. The goal is to achieve a market value exceeding twice the country's gross domestic product, fostering sustainable economic growth, supporting the digital economy, and ultimately improving the quality of life for Thai citizens.
