SEC Accelerates Investigation Into Business Dominance Allegations

Bangkok: The Securities and Exchange Commission (SEC) is expediting its investigation into suspected business dominance of listed companies. The SEC announced its commitment to look into the case involving suspicions of business dominance. Legal action will be pursued if any wrongdoing is identified. According to Thai News Agency, Mr. Anek Yoo-yuen, Deputy Secretary-General and spokesperson for the SEC, addressed concerns about individuals potentially acting in concert to take over businesses by holding a majority stake in listed companies. These individuals are suspected of being the sole major shareholders of a securities company without making a tender offer, as required by regulations. The SEC is actively investigating these allegations and has promised strict legal action should any non-compliance with SEC regulations be uncovered. Additionally, the SEC has previously dealt with issues related to securities offered by foreigners without proper licensing. In 2019, the SEC warned the public to exercise c aution to prevent potential damage, which led to legal proceedings. Charges were filed against the perpetrators in 2021 for offering securities to the public in Thailand without a license. This matter is currently under the consideration of the public prosecutor.