# SEC’s new boss vows to speed up investigation process

- Link: https://www.thailand-business-news.com/companies/153593-secs-new-boss-vows-to-speed-up-investigation-process
- Published: 2024-07-26T16:57:25+07:00
- Author: Daniel Lorenzzo

The Stock Exchange of Thailand is currently facing instability due to multiple fraud
scandals involving prominent members of the Thai business sector.

 * The new chairman of Thailand’s Securities and Exchange Commission aims to expedite
   investigations to address fraud allegations and restore investor confidence in
   listed companies.
 * Collaboration with the Stock Exchange of Thailand (SET) is prioritized to accelerate
   the investigation process and minimize market impact of fraud cases.
 * The SEC plans to develop regulations for new funding alternatives like digital
   assets and carbon credits, while also introducing flexible licensing structures
   for securities and derivatives businesses.

The new chairman of Thailand’s Securities and Exchange Commission (SEC), Wisit Wisitsora-
at, aims to accelerate the investigation process to minimize damage from fraud allegations
at listed companies.

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He intends to collaborate closely with the Stock Exchange of Thailand (SET) to expedite
investigations and classify cases by their impact.

“Going forward, the SEC and the SET should collaborate from the start to investigate
fraud cases more efficiently, without waiting for information to be sent. Acting
promptly on early signs of problems can minimize the damage,” he stated.

Additionally, Wisit is focused on creating alternative funding options like digital
assets and carbon credits, as well as enhancing the flexibility of licensing for
securities and derivatives firms. Under Wisit’s guidance, the SEC is committed to
bolstering investor trust and fostering sustainable development in the capital market.

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Scandals, such as accounting irregularities, debt defaults, and unexplained share
price fluctuations, can significantly impact investor confidence and the overall
performance of the SET. For instance, recent accounting scandals and bond defaults
have led to a sharp decline in the market value of several companies, causing volatility
and uncertainty among investors.

[The Stock Exchange of Thailand is currently experiencing instability and upheaval as a result of several fraud scandals involving prominent members of the Thai business sector.](https://www.thailand-business-news.com/crime/152734-the-stock-exchange-of-thailand-set-faces-crisis-of-confidence-amid-corporate-scandals)

One of the most recent events that affected the Thai market was the [scandal involving Stark Corporation](https://www.sec.or.th/EN/Pages/News_Detail.aspx?SECID=10908).
The incident occurred when the corporation was accused of an accounting scandal 
and embezzlement of funds.

Investors are now demanding stricter oversight of Thailand’s capital markets after
a series of scandals and the sudden default of Stark Corp, a $2 billion company.

Another recent event that impacted the Thai financial markets was the [Securities and Exchange Commission’s (SEC)](https://www.sec.or.th/EN/Pages/Home.aspx)
accusations against Energy Absolute (EA), which is one of the leading renewable 
energy companies in the Thai financial market.