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Progress towards becoming a Capital Market incorporating Good Corporate Governance |
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Announcing the year 2002 as the start of "The Good Corporate Governance Campaign". As a key part of the national agenda, the campaign will be actively promoted in a systematic manner. Driving the Good Corporate Campaign will be steering committee led by the Ministry of Commerce, and including the SEC, the SET, the Listed Companies Association, and all the associations of securities practitioners. The Committee aims to complete the campaign work by March of this year.
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The SEC shall be responsible for the evaluation and ratings for good corporate governance in all market-related organizations and to provide investors with relevant information. In addition, the ratings will provide incentives for the implementation of good corporate governance within these organizations. To reinforce and promote the practice of good governance, certain privileges for those gaining good ratings will be considered.
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The Association of Securities Companies (ASCO) shall establish a guideline on prudence to aid corporate compliance officers in their effort to promote efficiency corporate governance practices.
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In support of the establishment and enforcement of the company accounting standards in line with internationally accepted practice.
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Accelerating and improving the enforcement of the laws related to capital market activities.
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Support the establishment of a "Shareholder Association"
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Accelerate the issuance of laws in support of the "Class Action" suits.
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Adjust the law to clarify the roles of directors and executives of issuing companies and
intermediaries in cases where they may be guilty of either criminal and commercial misconduct.
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The Ministry of Commerce and the SEC shall hold discussions to resolve outstanding issuers concerning an amendment to the Public Company Act to provide the SEC with a more effective and integrated regulatory coverage of listed companies.
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Support collaboration between different private sector groups, such as the Thai Chamber of Commerce, and the Federation of the Thai industries, to promote implementation of good corporate governance. |
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The interpretations and conclusions given represent those of the authors. They
do not necessarily reflect the view of the Royal Thai Government, its
departments or other related institutions.
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