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SEC pubic hearing on draft amendment to financial reporting rules

Bangkok, March 31, 2016The SEC is seeking public comments on a draft amendment to the rules governing financial reporting of securities companies and derivatives business operators.  
The amendment would improve the financial reporting forms used by such intermediaries to meet the following objectives:
    1.  To comply with the revised financial reporting standards of the Federation of Accounting Professions (FAP);
    2.  To accommodate the electronic filing (e-filing) system of the Department of Business Promotion, the Ministry of Commerce;
    3.  To reduce burdens and costs of preparing financial statements of securities companies in the category of Non-public Accountable Entities (NPAEs); and
    4.  To report financial transactions related to agricultural derivatives business more appropriately.  
The draft amendment has taken into consideration the results of the previous hearing on the governing principles conducted in January, and is expected to apply to the reporting of financial statements for the accounting period starting on 1 January 2017 onwards. 
The consultation paper is available at www.sec.or.th. Stakeholders and interested parties are welcome to submit comments through the website, or facsimile at 0-22636487 or email: patana@sec.or.th.     

The public hearing ends on April 29, 2016.