Thailand SEC, UK Govt to Collaborate in Financial Sector

The initial focus areas of the partnership will include green bonds, the fintech ecosystem, e-KYC and cybersecurity, the SEC and UK government said.

Thailand’s SEC (Securities and Exchange Commission) has signed an MoU with the UK government establishing a partnership aimed at supporting sustainable, inclusive, low carbon economic growth and recovery in Thailand through the financial services sector.

The MoU strengthens the existing relationship between the UK and the SEC, formalising collaboration in areas including accounting standards, fintech development and sustainable finance – including the promotion of green bonds and climate risk disclosure for listed companies.

“Initially, specific areas of focus will include green bonds, the fintech ecosystem, e-Know Your Customer, and cybersecurity,” the SEC and UK government said in a joint statement.

The MoU will support the enhancement of Thailand’s ecosystem for transformation into digital economy and sustainable growth, said SEC Secretary General Ruenvadee Suwanmongkol.

It comes at a “crucial time”, as the Covid-19 pandemic has accelerated innovation and digitalisation of market participants, while also emphasising the importance of being adaptive and flexible to new opportunities arising from the change in the behaviours of capital market participants, she added.

The latest MoU follows last month’s agreement between the BOT (Bank of Thailand) and the UK government to support Thailand’s economic recovery and green growth in line with the Sustainable Development Goals (SDGs).

Both agreements were enabled by the UK’s ASEAN Economic Reform and ASEAN Low Carbon Energy Programmes.

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