Thailand Financial Sector Assessment Program : Implementation of the IOSCO Objectives and Principles of Securities Regulation
The responsibilities of the regulator should be clearly and objectively stated. The regulator should be operationally independent and accountable in the exercise of its functions and powers. The regulator should have adequate powers, proper resourc...
| Main Authors: | , |
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| Format: | Report |
| Language: | English en_US |
| Published: |
Washington, DC
2017
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/446611468120872681/Thailand-Implementation-of-the-IOSCO-objectives-and-principles-of-securities-regulation-detailed-assessment-of-observance http://hdl.handle.net/10986/28232 |
| Summary: | The responsibilities of the regulator
should be clearly and objectively stated. The regulator
should be operationally independent and accountable in the
exercise of its functions and powers. The regulator should
have adequate powers, proper resources and the capacity to
perform its functions and exercise its powers. The regulator
should adopt clear and consistent regulatory processes. The
staff of the regulator should observe the highest
professional standards including appropriate standards of
confidentiality. The regulatory regime should make
appropriate use of Self-Regulatory Organizations (SROs) that
exercise some direct oversight responsibility for their
respective areas of competence, and to the extent
appropriate to the size and complexity of the markets. SROs
should be subject to the oversight of the regulator and
should observe standards of fairness and confidentiality
when exercising powers and delegated responsibilities. The
regulator should have comprehensive inspection,
investigation and surveillance powers. The regulator should
have comprehensive enforcement powers. The regulatory system
should ensure an effective and credible use of inspection,
investigation, surveillance and enforcement powers and
implementation of an effective compliance program. The
regulator should have authority to share both public and
non-public information with domestic and foreign
counterparts. Regulators should establish information
sharing mechanisms that set out when and how they will share
both public and non-public information with their domestic
and foreign counterparts. The regulatory system should allow
for assistance to be provided to foreign regulators who need
to make inquiries in the discharge of their functions and
exercise of their powers. |
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