Thailand SEC opens consultation on Securities and Exchange Act amendments

Short selling and cross-border holdings are among the main targets

One part of the draft would place duties relating to short selling directly in the Act. It would also require foreign service providers to report information on the ultimate beneficial owners of securities, giving the regulator a clearer legal basis for tracing ownership behind cross-border arrangements.

The proposal also introduces reporting duties for significant encumbrances over securities. That could include situations where securities are subject to material claims or restrictions, although the practical reporting process will depend on the final legislation and any implementing rules that follow.

For investors, the immediate point is not that a new filing obligation has already started. The significance is that short selling, offshore intermediaries and the visibility of ownership structures are being addressed at statutory level, which could eventually affect how brokers and other market participants collect and report information.

For practical context, see Thailand economy and finance. This development also connects with Thailand SEC proposes clearer rules for bondholder representatives.

The draft adds a power to temporarily suspend certain transactions

Another proposed amendment would allow temporary suspension of transactions where they may involve unfair advantage or risk serious harm to investors or the public interest. The draft also covers the lifting of seizure or freezing orders involving assets of juristic persons, the use of other persons to conduct examinations on behalf of the SEC, and changes to related penalty provisions.

None of these draft powers should be treated as already effective. A public consultation is part of the law-making process, and the wording can still change before any amendment is enacted and brought into force.

**The consultation runs to 13 October and is separate from the August bills**

The SEC announced the draft amendments in a news release dated 15 September. Its public-hearing page lists the consultation period as running from 11 September to 13 October 2026. Anyone assessing the practical impact should therefore watch the final text after comments are considered rather than assuming the current draft will be adopted unchanged.

This proposal is also distinct from the package of four capital-market bills that the Thai Cabinet approved on 25 August. Those bills are already moving through a separate legislative process, while the September consultation focuses on another set of proposed Securities and Exchange Act changes concerning short selling, disclosure, securities encumbrances and supervisory powers.