Thai regulator unveils consultation on advice dispute rules

Thailand’s Securities Exchange Commission is seeking public feedback on proposed amendments to the rules governing the settlement of disputes between retail investors and intermediaries, in what is being seen by some as the latest in a series of actions by the regulator in response to complaints from investors who lost money in failed investment schemes.

In a statement, the Thai SEC said it was looking to adjust its existing arbitration process rules “in line with the current economic environment, international standards and relevant laws”.

The consultation closes on 29 April.

The proposed amendments, as spelled out by the SEC, are as follows:

* To increase the amount of damage claim eligible for entering the arbitration process;

* To adjust the time period for preparation of arbitration requests and evidentiary documentation before the arbitration process begins; and

* To revise the termination period for possession of prohibited characteristics by the persons on the SEC’s so-called Arbitrators List.

The regulator invites stakeholders and other interested parties to submit any comments through its website, via fax, or by email, to Complaints may be sent to this address:; information, in English, about how to make a complaint to the Thai SEC may be found by clicking here.)

(The only online facility for making comments specifically with respect to this consultation is in Thai, due to the Thai SEC’s limited resources, a spokesperson said.)

As reported,  more than 60 investors who lost thousands of pounds each as a result of investing in funds marketed by LM Investment Management, a failed Australian property fund manager, have been petitioning the SEC for help in clawing back their savings. In response the regulator has been filing criminal complaints against individuals and companies for operating securities businesses in Thailand without the necessary licence.

To see what the Thai SEC’s current regulations regarding dispute arbitrations, in English, are, click here. 

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