SEC revs up for international trading of unit trusts

BANGKOK, 7 April 2010 (NNT) — The Securities and Exchange Commission (SEC) will push to link capital market in the ASEAN region to enable diversified investment options for investors by 2012.

After attending a meeting with asset management companies, SEC Secretary-General Theerachai Puvanartnaranubala said that by allowing the international selling of unit trust, this will increase the competitiveness and role of the Thai capital market on a global scale.

The SEC has established a committee to review Thailand’s listed criteria for assets. This will help facilitate asset management companies to bring interesting products to the market that are comparable to global companies, said the SEC secretary-general.

The SEC will also evaluate the global criteria on a daily basis in preparation for international product launch and has also approved selling through the Exchange Traded Fund (ETF) established in Thailand.

SEC will have to evaluate the criteria of countries that have proposed the selling of unit trusts in order to ensure that Thai investors have equal protection as foreign investors, said Mr Theerachai.