Thailand proposes rules for digital fund managers

Cryptocurrencies 2Digital asset fund managers and investment advisors in Thailand will be required to apply for a licence to continue operating under new regulatory proposals. The Securities and Exchange Commission (SEC) has been spurred into action due to retail investors’ growing involvement with digital assets and the volatility of cryptocurrency values. Between November and December 2020, the volume of digital asset investment by retail participants more than doubled, from THB500 million to THB1.1 billion (US$16.5 million to $36.3 million). In addition to the licence requirements on investment firms, the draft rules will also require investors to have net assets of at least $330,000 and an annual income of $33,000. The regulator is also proposing that retail investors have sufficient investment knowledge and are able to demonstrate at least two years of experience in securities or derivatives trading or else have obtained certification from an authorised institution. Investment firms will be required to test the knowledge of their investors before offering them digital assets. The draft rules have been issued for consultation and firms have until March 27 to submit their opinions. © 2021 funds global asia

Executive Interviews

Executive interview: PGIM CEO on where the ESG flowers should bloom

Sep 27, 2021

David Hunt, president and chief executive of PGIM, tells Romil Patel about leading a top 10 global asset manager in times where “empowering and encouraging the kind of investment decisions as...

Executive interview: Nicolas Moreau’s orderly transition

Jul 12, 2021

Nicolas Moreau, CEO of HSBC Asset Management, is moving to Asia as the firm looks to connect more directly with the region’s growth story. ESG is also a key focus – including the ‘just’ carbon...


Roundtable: Singapore comes of age as an Asian ESG hub

Dec 01, 2021

Strong ESG credentials strengthen the case for Singapore as a leader in Asia of the post-Covid recovery. Our panel discusses the risks and opportunities.

Roundtable: How well geared are Japanese assets for a new world?

Jul 12, 2021

As we prepare to emerge from Covid, experts look at overcoming demographic issues through a combination of good tech and corporate governance, improving productivity and meeting an ambitious government carbon emissions reduction target. Chaired by Romil Patel.