Educational Information Only
The content on this page is for general educational purposes and does not constitute legal advice. Every legal situation is unique. For matters involving investigation, arrest, litigation, or formal proceedings, consult a qualified legal professional.
Securities and Exchange Act
พระราชบัญญัติหลักทรัพย์และตลาดหลักทรัพย์ · SEA · B.E. 2535 (1992)
Overview
The Securities and Exchange Act B.E. 2535 (1992) establishes the regulatory framework for the Thai capital markets. It created the Securities and Exchange Commission Thailand (SEC), which oversees securities issuance, the Stock Exchange of Thailand (SET), market intermediaries, derivatives, mutual funds, and (after 2018 amendments) digital-asset businesses. The Act has been amended repeatedly to keep pace with market evolution and international standards.
- Promulgating authority
- Parliament
- พระราชบัญญัติ
- Enacted
- B.E. 2535 (1992)
- Official text
- https://www.ocs.go.th/searchlaw
Key Sections6
The 6 sections most frequently cited in practice or relevant to foreigners. Click any section for a deep-linkable page suitable for sharing.
Section 8
— SEC and Office establishedSection 8 establishes the Securities and Exchange Commission (the SEC Board) as the principal capital-markets regulator; Section 17 establishes the SEC Office. (Section 14 lists the Board's powers and duties.)
Section 32
— Securities offering approvalSecurities may only be offered for public sale after SEC approval; specifies disclosure and prospectus requirements.
Section 247
— Tender offer rulesA person acquiring securities up to prescribed thresholds (commonly 25%, 50%, 75%) must make a tender offer to all shareholders (Section 247, with Sections 248–253). (Section 59 is the holdings report by directors and executives.)
Section 89/7
— Director dutiesDirectors and executives of a listed company must perform their duties with responsibility, due care and loyalty (Section 89/7, with the duty of care in Section 89/8). (Section 89 is auditor approval.)
Section 242
— Insider trading prohibitionProhibits trading securities while knowing or holding material non-public information (Section 242; Sections 243–244 set related presumptions). (Section 241 bans false or misleading analysis and forecasts.)
Section 244/3
— Market manipulationProhibits orders or trades that mislead the public about a security's price or volume and other manipulative practices (Section 244/3, with Sections 244/5 and 244/7); penalties under Sections 296 and 296/1. (Section 243 is a presumption of who holds inside information.)
Amendments
Major amendments include the Digital Asset Business Decree B.E. 2561 (2018), the crowdfunding rules (2015), and corporate-governance enhancements aligned with IOSCO standards.
The summaries on this page are plain-English educational paraphrases — not authoritative translations. For the binding wording you must consult the Royal Gazette publication or the consolidated text at the Office of the Council of State. Educational use only — not a substitute for advice from a Thai-qualified lawyer.
Professional Legal Assistance
When a matter involves investigation, arrest, detention, litigation, or regulatory action, professional legal representation becomes essential.
Anglo Siam Legal provides experienced legal services across Thailand for both Thai nationals and foreigners.
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