Thai SEC updated rules on offering of offshore capital market products through locally licensed intermediaries

Previously, the Thai Securities and Exchange Commission (the “Thai SEC”) allowed locally licensed securities companies (the “Local Intermediaries”) to offer offshore capital market products (the “Offshore Products”) to their clients through a collaboration with foreign securities business operators (the “Offshore Operators”), subject to specific requirements such as the registration of information pertaining to Offshore Operator personnel (the “Offshore Personnel”) providing investment advice.

This collaboration allows Offshore Personnel, under the supervision of Local Intermediaries, to provide information and investment advice on Offshore Products denominated in foreign currency to investors in Thailand. These Offshore Products include debentures, units of foreign collective investment schemes, and other capital market products issued or offered for sale in a foreign country.

Key updates

In an effort to enhance flexibility in the dissemination of Offshore Product information by Offshore Personnel and to improve the timeliness and updates of investment information for Thai investors, the Thai SEC recently issued Notification No. TorThor. 41/2566 (the “Notification”). This Notification, effective from 16 February 2024 onwards, amends the requirements of the existing scheme. Key amendments and our observations are detailed below:

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This article does not and is not intended to constitute a legal advice. You should not use or otherwise rely on its contents without obtaining qualified legal advice.