Thailand Proposes Compulsory ESG Training for Capital Markets Personnel

Investment consultants and fund managers would be required to undergo a mandatory training module covering ESG at licence renewal.

Thailand’s SEC (Securities and Exchange Commission) has proposed including compulsory ESG training for capital markets professionals when they renew their licences every two years, in a bid to promote sustainable investment.

Presently, capital market professionals undergo a three-module training on ethics, regulations and professional conduct every two years on renewal of their practicing licences.

Under the proposed regulation, capital market personnel – including investment consultants, investment planners, investment analysts, agricultural commodity trading managers, fund managers and derivatives investment managers – would be required to undergo a fourth mandatory training module covering ESG.

The proposed requirement is in line with growing international practice, and aims to promote awareness of ESG principles among capital markets professionals, for the benefit of investors and the market, the SEC said.

“To perform their roles and responsibilities, personnel in the capital market business need to acquire knowledge and understanding of the ESG principles and apply them in providing services of investment consulting, analysing and choosing products for investors,” the regulator said.

“In this regard, SEC is proposing an amendment to the regulations on renewal of approval for personnel in capital market businesses whereby an ESG course would be compulsory for renewal of approval for capital market business personnel whose approval will expire at the end of 2021 onwards.”

The consultation paper, available here, is open for comment until 11 December 2020.

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