The revision aims to promote greater varieties of product choices for investors and enhance competitiveness of the fund management industry. The draft amendments have taken into consideration the comments and suggestions of the private sector and stakeholders who took part in the previous hearing on the governing prinicples.
Key points of revision include (1) permission for mutual funds offered for sale to institutional investors or ultra high net worth investors to invest in any type of financial assets and instruments without restrictions, (2) cancellation of private fund types, i.e., retail and non-retail private funds, resulting in one all inclusive type which would be allowed to invest in any financial assets and transactions according to the agreements with the clients, and (3) permission for margin loans on clients' behalf. In support of the proposed amendments, the SEC has prescribed other relevant rules to ensure appropriate protection of investors' interest.
The consultation paper is available at www.sec.or.th/hearing. Stakeholders and interested parties are welcome to submit comments through the website, or facsimile at 0-2695-9939 or email: [email protected].
The public hearing ends on July 8, 2016.