The above statement was in response to news reports that Thai listed firms were viewed as being highly corrupt. “The information referred to in the reports was from the Securities and Exchange Commission’s (SEC) website, where the SEC reported about the number of organizations and persons under its supervision that it had disciplined over 2000-2009. Many of the violations reported involved parties which were not listed firms and most of the rule violations did not involve corruption,” said SET President Charamporn Jotikasthira.
“The SET and SEC have rules and information disclosure systems for listed firms, including efficient investigation system. On the other hand, non-listed companies often lack such disclosure or investigation systems. Therefore, we cannot conclude that listed firms committed the most corruption,” he continued
SET has established rules to disclose important information for investors and other relevant parties, including a systematic and consistent follow-up process on listed companies’ operations. Moreover, the SET also analyzes the degree of importance and urgency of each case to help investors and related parties receive the information they need for prudent decision-making. If a given case might cause significant damage to listed companies or shareholders, as in cases of abnormal trading, SET will coordinate its investigation with the SEC, with clear guidelines for enforcement of regulations.
“SET and SEC place importance on enhancing listed firms’ corporate governance enhancement, overseeing listed firms’ operations to be transparent, effectively enforcing laws and regulations. In addition, the SET will enhance its operations for the benefits of investors and related parties”, concluded Mr. Charamporn.
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