Bangkok--Nov 29--SET
The Stock Exchange of Thailand’s (SET) Board of Governors has incorporated its blacklist rule into its listing requirements so that the SET’s rules regarding those unsuited to be listed companies’ executives would be more in line with those of the SEC.
Executive Vice President of the SET, Mr. Suthichai Chitvanich, said that presently two bodies supervised listed firm’s executives. The Securities and Exchange Commission (SEC) monitored the qualifications of executives of firms issuing securities to the public.
The SET’s supervision was exercised via having and enforcing (a) requirements on listing and maintaining listing status which were in accordance with SEC rules, and (b) the list of persons whom the SET considers as not being suitable to manage listed firms (or the blacklist rule).
To make the supervision of the SET more in line with that of the SEC, the SET has now incorporated its blacklist rule into its requirements on listing and maintaining listing status. This will be in accordance with the SEC rule stipulating that the listed firms’ executives must not have certain disqualifying characteristics.
“The SET will now use only the requirements on listing and maintaining listing status to supervise the listed companies’ executives, because such rules will now include details on persons blacklisted from managing listed firms,” said Mr. Suthichai.
For more information,
please contact the Corporate Communications Dept.:
Ladawan Kantawong Tel: 0-2229-2036
Kulvida Jintakawong Tel: 0-2229-2037
Nattaporn Boonprapa Tel: 0-2229-2049
Watsamon Saowakhonsathien End.