SET Manager explains the case of an article referring to SET, stating that its organizational structure and operations are comparable to leading stock exchanges abroad and are in accordance with the Securities Act. The SEC supervises Confirmed to see work abroad, not flying first class
Mr. Phakorn Peetathawatchai, Director and Manager of the Stock Exchange of Thailand (SET), clarified the facts in the case of an article alluding to the work of the Stock Exchange, stating that according to the author of the article published through the media late last week. Alluding to the workings of the Stock Exchange. including the board of directors and executives of the Stock Exchange with incorrect facts which even though the Stock Exchange You will get to understand the writers and editors of the said media. Until the author of the article has agreed to make corrections. However The article still has deviations from the facts. Therefore, I would like to clarify the facts as follows:
1) Organizational structure and operations of the Stock Exchange Comparable to leading stock exchanges abroad and various operations are in accordance with the scope of authority and duties as specified in Securities and Exchange Act and is under the supervision of the SEC Office. Its duty is to supervise and inspect securities trading to be efficient and fair. It is considered one of the important missions of the Stock Exchange. which has been continuously developed To keep up with the situation
2) Structure of the Stock Exchange of Thailand’s board of directors as specified in Securities and Exchange Act It consists of representatives from stakeholders in various sectors of the capital market. They will perform their duties in the form of Public Independent Directors (PID) appointed by the Securities and Exchange Commission (SEC). One is a representative who is elected by a meeting of the members of the Stock Exchange. In addition, with the structure of the Stock Exchange’s board of directors and various sub-committees consisting of experts from various fields. Helps drive the diversity of various policies of the Stock Exchange of Thailand. To be efficient and promote corporate governance Including measures to prevent conflicts of interest. which is in accordance with the principles of good corporate governance (Good Corporate Governance)
3) Traveling for study visits It is considered one of the ways to seek knowledge. and exchange experiences with leading organizations abroad Including promoting learning of new developments that are business innovations Both in terms of concepts, working methods and new product creation. The study trip in 2023 is considered the first time in 4 years after the COVID situation has resolved. This time it was a meeting and discussion with both government and private organizations. To enhance knowledge that will be beneficial to the development of the Thai capital market to grow and be able to compete internationally. The said trip is in accordance with the regulations of the Stock Exchange. clearly defined (No first class travel) and has appropriate budget management. It has also been examined by the Audit Subcommittee. Just like any other organization in general.
4) As for the accusations against the Stock Exchange of Thailand that there were serious laxities in the case of securities of a listed company, This is because the duty of the Stock Exchange is to monitor and supervise listed companies to disclose important information. To provide investors with sufficient information to make investment decisions. Stock Exchange Therefore, they are not at the source of information disclosed by listed companies. In the capital market, there are many other related parties who come together to perform their duties in monitoring and inspecting listed companies. Whether it is an independent auditor Securities Analysts Association Thai Investors Association Including agencies with various regulatory powers. In addition, when such cases occur Stock Exchange We have rushed to work closely with the SEC Office to jointly solve problems.
“The Stock Exchange would like to confirm that the work of the board of directors, executives and employees of the Stock Exchange It is in accordance with the principles of corporate governance. Be transparent and can be checked By the work of the Stock Exchange The objective is to develop the Thai capital market to benefit all sectors,” Mr. Phakorn said. – Thai News Agency
Source: Thai News Agency