The Securities and Exchange Commission (SEC) plans to take legal action against offenders under the Securities and Exchange Act this week, in a move to restore confidence in the Thai stock market.
Anek Yooyuen, deputy secretary-general of the SEC, said the regulator will continue to take action against offenders in various cases to protect the benefits of investors and relevant parties.
For the rest of this year, the SEC expects to charge the offenders in a handful of cases, most of which are civil charges related to price manipulation and executive mismanagement.
Based on the ongoing investigations of several cases, the SEC will announce charges in one major case this week, though details cannot be divulged at this stage.
Meanwhile, the regulator recently accelerated the launch of the Thai ESG Fund (TESG) to suit growing demand from investors for tax deductions.
As of Nov 6, there were 34 TESG funds, an increase of 12 from the end of 2023. Of the 12 funds, nine are completely new funds and the other three requested criteria amendments. Investors can exercise the same tax deduction benefits with newly established TESG funds.
TESG's net asset value increased from 5.27 billion baht at the end of 2023 to 10 billion by the end of September this year.
In addition, the SEC has improved and issued criteria to support the establishment and management of green investment trusts to support investments in environmentally-friendly projects to store greenhouse gases in forestry or agricultural activities.
The move is aimed at facilitating businesses, investors, and other stakeholders in participating in environmental protection and to be a channel for raising funds from the capital market for businesses to implement green projects, both new and ongoing ones, added Mr Anek.
According to the regulator, more than 112 billion baht's worth of sustainable bonds were issued from January to September this year.
The SEC intends to support the development of sustainability among stakeholders, increasing awareness of its importance in business practices, the environment and related economic activities, Mr Anek said.