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INTERNATIONAL MONETARY FUND
H. Authorities’ Response to the Assessment
35. The Securities and Exchange Commission of Thailand (SEC) welcomes the assessment
as the first jurisdiction under the new IOSCO Objectives and Principles of Securities
Regulation published in May 2017. The newly updated set of Principles has rigorously enhanced
the foundation of effective and stable financial systems, providing guidance and implementation for
an essential regulatory framework to cope with significant challenges in globalized, technology-
oriented, instability, and integrated financial market environment.
36. The SEC would like to express our gratitude to the FSAP mission team and IOSCO
assessors. We sincerely appreciate the dedication, resources, and time of the experienced assessors
for the profound review of the legal system, regulatory framework, as well as practices of the Thai
capital market. The valuable recommendations will further strengthen the sound framework of
securities regulations and high level of implementation of the IOSCO Principles by the SEC.
37. Since Thailand’s last FSAP in 2008, the SEC has been prioritizing the recommendations
from the assessment with commitment to take steps toward practical implementation and
incorporated these measures into Capital Market Development Plan and SEC Strategic Plan.
This assessment has provided the authorities with an opportunity to holistically review supervisory
and regulatory framework through self-assessment and onsite visits of the assessors. Significant
progress has resulted in every area as elaborated in the assessment report, which objectively reflects
the present development and continuous improvement of Thai capital market. It acknowledges that
the regulatory framework is largely compliant with the IOSCO Principles, recognizes the authorities’
efforts to deepen reforms and promotes development of Thai capital market.
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